Gallagher details widening cyber breach and privacy duties in Australia

The OAIC additionally reported a rise in breaches linked to human error, which made up 37% of all notifications (193 incidents), up from 29% within the earlier reporting interval. The regulator concluded that “the human issue continues to pose a notable risk to the energy of an organisation’s private data safety, no matter how safe its methods are.” IBM’s 2024 benchmarking, cited within the commentary, positioned the common price of an information breach to a enterprise at US$4.26 million. On this context, cyber insurance coverage is offered as one ingredient of a broader danger method that features detection capabilities, incident response planning, workers coaching, and alignment of protection phrases with evolving Australian privateness and cyber regulation.