Do you do CTP/Green Slips?

Yes - we are authorised agents of QBE and Allianz in relation to CTP/Green Slips in NSW.

As a start-up business, what cover do I need?

This depends on the type of business you are in. New insurance policies are being developed constantly as the world and the risks you face change. DKG Insurance Brokers undertake regular training and remain abreast of all developments within the industry, so they are well placed to regularly review your risk areas and advise accordingly.

How do I obtain a quote and how long does this take?

The duration of an insurance policy can vary depending on several factors, including the type of insurance, the insurer's processes and the specific terms and conditions of the policy. Typically, insurance policies can be issued and activated within a few days to a few weeks. However, more complex policies or those requiring additional underwriting may take longer to process.

Why should I use a broker instead of going direct with an insurance company?

As insurance brokers, our priority is to represent your interests at all times and to provide you with professional guidance in everything pertaining to your insurance in a market that is forever changing in premiums, product availability and policy conditions. Our team of Qualified Practising Insurance Brokers is trained to understand the differences between various policies and is often able to negotiate premiums that aren't available to you. In fact, some insurance policies are only available through intermediaries such as brokers. Our role as brokers is to source the most appropriate policies for your circumstances and to advise on the various areas of risk for you or your company.

What is a Product Disclosure Statement (PDS)?

A Product Disclosure Statement or PDS should be provided to retail clients prior to them making a decision to purchase an insurance policy. The PDS is issued by the insurer and highlights significant information about the policy of which you should be aware. This includes information about the insurer, significant benefits and features, things that are not covered, significant risks and other important information. You should carefully read the PDS prior to making a decision about purchasing an insurance policy.

What is a Financial Services Guide (FSG)?

A Financial Services Guide (FSG) must be given to a potential client by a licensee (or an Authorised Representative) as soon as practicable. It sets out information in relation to how we do business such as documenting the standard basis on which we act for the client; providing all statutory notices; other information required by law (e.g. how we get paid); and explaining how we will handle a client’s business.

Cyber Risk in Australia: What it means for your business

Posted on: 27 February 2025

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Business Insurance

Cyber Insurance

Insurance Risk Management

February 2025

Cyber threats are evolving—mitigate your business risk with expert insights and cyber insurance from DKG Insurance Brokers.

Cyber risk extends beyond IT—it’s a critical business risk that affects directors, officers, employees and daily operations. As cyber threats evolve, Australian businesses are facing rising financial losses, operational disruptions and reputational damage, making cyber risk management a critical priority.

The Rising Cost of Cybercrime

Cyber threats impact every aspect of business operations, from financial loss to regulatory fines and reputational damage. The Australian Cyber Security Centre (ACSC) received over 87,400 cybercrime reports in 2023-24. Medium-sized businesses faced average self-reported costs of $62,800 per incident, while small businesses reported losses averaging $49,600 per incident.

Cyber Risk Beyond System Restoration

Cyber risk extends beyond restoring data and systems. The Office of the Australian Information Commissioner (OAIC) mandates disclosure for qualifying cyber-attacks, emphasising the need for robust risk treatment to safeguard business integrity and directors’ fiduciary duties amid rising threats. A cyber insurance policy provides access to an insurer-approved panel of cyber loss experts, from brand protection and legal advisors to loss adjusters, while covering costs for forensic investigations, legal fees, PR and regulatory fines, ensuring business continuity.

Key Cyber Threats

Ransomware Attacks – Malicious software encrypts business data and demands payment for decryption. The ACSC reported that 11% of all incidents responded to in 2023/24 included ransomware, a 3% increase from the previous year.
Phishing and Email Fraud – Business email compromise (BEC) remains one of the top cyber threats, where attackers pose as executives or suppliers to steal money or sensitive information.
Supply Chain Vulnerabilities – Cybercriminals exploit weaknesses in third-party vendors to gain access to a business’s data.
Data Breaches and Privacy Risks – Companies that fail to protect customer data face regulatory fines under the Privacy Act and risk long-term reputational damage.

Luke Kelly, Managing Director of DKG Insurance Brokers, warns, “Cyber risk is no longer something businesses can ignore. The consequences of a cyber attack can be catastrophic—not just financially, but in terms of reputation and trust. That’s why cyber insurance is now an essential part of a business’s risk management framework.”

Why Directors and Officers Must Take Action

Cyber risk is both an operational and a legal concern. Directors and officers have a responsibility to understand and manage cyber risks as part of their broader governance obligations. The Cyber and Infrastructure Security Centre (CISC) emphasises that corporate leaders must proactively address cyber security threats to protect business integrity and resilience. Failure to do so can result in regulatory scrutiny and potential liability under corporate governance laws.

Employees: The First Line of Defence

Employees play a key role in cyber resilience, as cybercriminals frequently exploit human vulnerabilities through phishing and social engineering attacks. The ACSC advises that strong cyber hygiene and regular employee training are critical in reducing cyber risk.

Carien Ahdar, Senior Financial & Professional Risks Insurance Broker at DKG, highlights, “Cyber security isn’t just about technology—it’s about people. Educating employees to identify and respond to cyber threats is one of the most cost-effective ways to reduce risk. A well-trained workforce is your best defence.”

Employee cyber security best practices include:

Multi-Factor Authentication (MFA) – Strengthens logins with an extra security layer.
Phishing Awareness Training – Helps employees identify and report suspicious emails.
Regular Software Updates – Ensures businesses stay protected against evolving threats.
Access Control Policies – Limits employee access to sensitive business information.

Cyber Insurance: Your Business Safety Net

While prevention is critical, businesses must also prepare for worst-case scenarios. Cyber insurance provides financial and operational protection to help businesses recover quickly from cyber incidents.

DKG’s Cyber Insurance solutions cover:

Financial losses due to cybercrime, fraud, or ransomware.
Legal costs associated with regulatory fines and lawsuits.
Business interruption losses caused by operational downtime.
Data recovery and forensic investigations following a breach.
Crisis management support, including PR and brand protection.

Ahdar adds, “Cyber threats continue to evolve and businesses must stay ahead. A strong cyber security framework, combined with awareness and the right insurance coverage, helps organisations build resilience and recover quickly from incidents.”

Protect your business today. Please reach out to our team on 1800 252 926 or emails us at insurance@dkg.com.au to discuss tailored cyber risk solutions that fit your industry and risk profile.

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