QBE

Professional Services

Tailored coverage for law firms, accounting practices, and consultancies.

• • Professional liability integration
• • Client data protection
• • Regulatory compliance support

Retail and Hospitality

Comprehensive protection for retail businesses and hospitality providers.

• • PCI compliance coverage
• • Point-of-sale protection
• • Customer data security

Manufacturing

Specialized coverage for manufacturing and industrial businesses.

• • Industrial control system protection
• • Supply chain cyber risk
• • Operational technology coverage

"QBE's cyber insurance coverage has been essential for our law firm. Their understanding of professional services risks and regulatory requirements is exceptional. The claims process during our recent security incident was handled professionally and efficiently."

"The risk assessment tools and training programs have helped us significantly improve our security posture. Their proactive approach to risk management sets them apart from other insurers."

"As a retail business, we particularly value QBE's expertise in PCI compliance and point-of-sale security. Their coverage has given us peace of mind in handling customer payment data."

"While the claims process documentation can be extensive, their support team is always helpful in guiding us through the requirements. The preventive services have been particularly valuable."

"QBE's understanding of industrial control systems and manufacturing-specific cyber risks has been crucial for our operations. Their incident response team helped us recover quickly from a potential system breach."

"The coverage for operational technology and supply chain risks provides comprehensive protection for our complex manufacturing environment. Their technical expertise in this area is impressive."

How much does QBE cyber insurance cost for a small business?

For a small business (1-10 employees) with annual revenue under $2M, QBE cyber insurance typically costs $500-$1,500 per year. Exact pricing depends on your industry, data types handled, existing security measures, and desired coverage limits. A retail shop with basic POS systems might pay $600/year for $500K coverage, while a professional services firm handling sensitive client data might pay $1,200/year for $1M coverage.

What does QBE cyber insurance actually cover?

QBE cyber insurance covers: (1) First-party losses like data recovery ($10K-$50K typical), business interruption ($5K-$200K), and ransomware payments ($5K-$100K); (2) Third-party claims including legal defense ($20K-$500K), regulatory fines ($10K-$1M), and customer notification costs ($2K-$50K); and (3) Incident response including forensics ($15K-$75K), PR/crisis management ($5K-$30K), and credit monitoring services ($3K-$25K per affected individual).

How quickly does QBE respond to a cyber incident claim?

QBE provides 24-48 hour initial response after claim submission. When you call their 24/7 hotline, you'll receive an immediate case number and assigned handler within hours. Approved incident response vendors are typically deployed within 24 hours. Full claims settlement averages 4-6 weeks, though emergency expenses (like forensics and immediate response) are often pre-approved within 48 hours.

Does QBE cover ransomware payments?

Yes, QBE cyber insurance covers ransomware extortion payments where legally permitted in New Zealand. Coverage typically includes: the ransom payment itself (subject to policy limits, usually up to $100K for SMBs), professional negotiation services ($5K-$15K), cryptocurrency transaction fees, and data recovery costs post-payment. However, you must notify QBE immediately and get approval before paying any ransom to ensure coverage.

Is QBE better than AIG or Chubb for NZ businesses?

For small to medium NZ businesses (under 50 employees), QBE is often the best choice due to: lower starting prices ($500 vs $800-$1,200), excellent local NZ support, faster claims processing for smaller claims, and better understanding of NZ regulatory requirements. AIG is better for larger enterprises needing $10M+ coverage limits, while Chubb suits multinational corporations. Compare all three providers here.

What security requirements does QBE require for coverage?

QBE requires basic cyber security measures: (1) Multi-factor authentication (MFA) on all admin accounts and remote access; (2) Regular backups stored offline or in secure cloud storage, tested quarterly; (3) Antivirus/EDR software on all devices, updated automatically; (4) Firewall protection for network perimeter; and (5) Employee security training at least annually. Higher coverage limits ($2M+) may require additional measures like penetration testing and incident response plans.

Can I get cyber insurance if I've been breached before?

Yes, but it depends on the breach timing and your response. QBE typically won't cover known incidents that occurred before policy inception or ongoing breaches at application time. However, if you had a breach 12+ months ago, fully remediated it, and implemented stronger security measures, QBE will usually provide coverage - though you may face a higher premium (10-30% increase) or a higher deductible. Full disclosure is required during application.

How long does it take to get QBE cyber insurance approved?

Small businesses ($500K-$1M coverage): 1-3 business days after completing the application and security questionnaire. Medium businesses ($1M-$5M coverage): 3-5 business days, may require brief security assessment call. Large businesses ($5M+ coverage): 1-2 weeks including detailed security review and possible on-site assessment. Start your application now to get covered within a week.