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Australia among regional leaders for cyber penalties

3 April 2018 | social
Insurance News | Data breach
Australia is one of the strictest countries in the Asia-Pacific region when it comes to data breach penalties, a new report has found. The Data Risk Management Barometer, commissioned by tech firm Dell EMC, has revealed that Australia has one of the harshest set of penalties for data breach, with maximum penalties set at $1.8 million.
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Mandatory breach notification: one month on

28 March 2018 | social
Data breach notification scheme
In the short time since the late February rollout of Australia’s mandatory breach notification scheme, the privacy commissioner has already been notified of 31 breaches, an Aon expert has said.
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Debbie the second most costly cyclone in Australia's history

26 March 2018 | social
Debbie the second most costly cyclone in Australia's history
CYCLONE Debbie is officially Australia's second most expensive cyclone, costing more than $1.71 billion to fix damage from Townsville in Queensland's north to Lismore in NSW. The Insurance Council of Australia has confirmed the cost of Debbie's damage is second to Cyclone Tracy which devastated Darwin in December, 1974.
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Insurance Council of Australia declares southwest bushfires a catastrophe

22 March 2018 | social
Bushfires Melbourne
THE devastating bushfires in the state’s southwest last weekend have already cost insurers $12 million in damages.
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Brace for more rains, floods - BoM

19 March 2018 | social
CMIB insurance | Weather forecast
The Bureau of Meteorology (BoM) has issued a 'flood watch' for coastal catchments from Ingham to Daintree in Queensland, as it forecasted further rainfall to lash across the state's northernmost region.
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90% of organisations concerned about insider attacks

16 March 2018 | social
Among businesses today, the awareness of the threat of cyberattacks and cybercrime from insiders is gaining prominence.
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Is insurtech moving to the mainstream?

14 March 2018 | social
Insurance News Australia
Insurtech could be moving more towards the mainstream of the industry, an expert has said. Laura Kalomiris, director of operations at Trov, said that one of the big trends she saw in insurtech over the course of 2017 was its move toward the mainstream as more businesses looked to jump into the innovative technology.
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JLT cyber leader calls for 'attitudinal shifts' toward risk

12 March 2018 | social
cyber security news CMIB insurance
A visiting cyber specialist from London has urged tech chiefs to focus on “internal collaboration” and treat potential cyberattacks not just as an IT security risk, but a strategic business one.
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Corporate Insurance: unleashing the value

9 March 2018 | social
Corporate Insurance
With changing work patterns, evolving employee benefits and regulatory change, an organisation’s corporate insurance offer to employees continues to be a critical tool that enables an employer to attract and retain talent as well as meet their duty of care responsibilities.
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Are you ready for the Notifiable Data Breaches scheme?

7 March 2018 | social
Notifiable Data Breaches scheme explained
Australia’s new Notifiable Data Breaches scheme is designed to bring our privacy laws up to the standard the community expects in the information age.
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