15 April 2020

Preparing for cybersecurity law changes in New Zealand

In today’s market, data, digital toolsand technology are fundamental to operating even the smallest business; yet cyber risk remains very real and is rising year on year.

In response to the growing number of cyber incidents and the significant impact they have had on individuals and businesses, there has been a global shift in legislation changes. We’ve seen the GDPR privacy regulation come into effect across Europe; enforcing strict rules on the use of data and hefty fines such as British Airways recent £182 million fine after a breach. The U.S and Australia have also had to make some changes to their respective legislation and in March 2020,New Zealand is due to follow suit.

What will a cybersecurity legislation change mean for your business?

If the law comes into effect companies will be required to report cyber-attacks to the Privacy Commissioner. Failing to report attacks could result in fines up to $10,000 as well as potential liability around data theft.

Get informed and get covered

Our cyber risk quiz is designed to help identify the many cyber risks your business face every day as well as offering tips to help reduce your risk.

The quiz has 10 true/false questions, covering all the typical cyber misconceptions us kiwis can have such as:

• Our firewalls and anti-virus software keep us safe
• We outsource our IT
• We don’t collect sensitive data
• We do back-ups all the time so we’d be ok
• My business is too small to be a target

Take the quiz and get in touch to discuss ways in which your business can mitigate the risk including insurance options.

Client Advisory