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New Zealand needs to step up

29 Nov 2017

The Insurance Council of New Zealand has reported that small Kiwi businesses are lagging in their uptake of cyber protection compared with their Australian counterparts.

According to a report fromICNZ, many Kiwis are left vulnerable to cyber-attack, with only 6% of small and medium-sized enterprises (SMEs) in New Zealand having cyber insurance, compared with 14% in Australia.

“Big corporates get it; we are seeing a real move to most having a cyber policy or at least a standing item on their board agendas,” Insurance Council chief executive Tim Grafton said. “The real problem area is NZ small-medium enterprises.”

Grafton said New Zealand is a nation of small businesses, with more than 90% of businesses having less than 20 employees. “The common sorts of crypto attacks are unsophisticated, untargeted and while low in dollar value – usually sub-$5,000 – enough to be an annoyance and damaging to a small business,” he said.

A recent Norton NZ survey found one in five small businesses in New Zealand has been targeted by a cyber-attack, which makes education about cyber risks and robust cyber risk management extremely important, ICNZ said.

In a separate report, the government has called on New Zealanders to step up their cyber defence.

Broadcasting, Communications and Digital Media Minister Clare Curran said CERT NZ and Connect Smart have teamed up to help Kiwis and businesses improve their cybersecurity.

The minister set out simple steps that can help New Zealanders stay safe online. These include:

  • Use different password for every online account you have – making them long and strong;
  • Be careful about the personal information you use online – including your pet’s name.

“The cyber threat landscape that affects New Zealand is constantly changing, but having good security practices are measures that anyone can take,” Curran said.

 

 - Insurance Business

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