Cybercrime isn’t just a problem for big corporations. According to research, 53% of SMEs experienced a cyber threat in the first half of 2025.
Small or mid-sized Kiwi businesses with limited cyber protection resources are among the most vulnerable, and one ransomware attack can stop a business trading for weeks.
At Bonded NZ, we’re at your side with the right protection. The Cyber Ultra from NZI is one of the covers we can arrange to help you manage cyber-attacks.
What is Cyber Ultra cover?
Cyber Ultra is NZI's most extensive cyber policy, and includes cover for IT experts to fix the issue, first- and third-party liability, and legal costs.
It also covers business interruption. If a cyber-attack or loss of service puts you out of action for more than 12 hours, the policy responds to lost profits, and there's no indemnity period restriction on how long that runs.
Here are some of the inclusions of the Cyber Ultra cover:
Getting your systems back. System damage cover applies to IT systems, records and data that are lost, damaged or destroyed.
Any money taken. Loss of money or property, including losses out of a service provider's systems, and losses caused by a rogue employee or a third party.
The attacks themselves. Hacking, viruses, phishing emails and denial-of-service attacks are all covered, even from your own employees.
Privacy and data. The policy covers loss of personal or corporate information, including employee information, and information held by service providers.
Reputation. Cyber Ultra may pay for public relations consultants to protect your brand and the personal reputations of senior executives.
What is cybercrime?
Cybercrime is any criminal activity that targets your systems and data or uses them to take your money. Examples of cybercrime include:
Phishing. A convincing email or text gets someone to hand over a password. The attacker then accesses data through the front door with legitimate credentials.
Business email compromise. Once an inbox is compromised, the attacker waits for a genuine invoice, swaps the bank account details and sends it on.
Ransomware. Your files get locked, and a payment is demanded to release them.
Unauthorised access. Stolen logins or unpatched software allow someone into your systems.
Denial of service attacks. Your website or systems get flooded with traffic, so genuine customers can't get through, and you can't trade until it's fixed.
Rogue insiders. A current or former employee with system access takes data or money on the way out.
The National Cyber Security Centre records thousands of incidents a year and tens of millions of dollars in reported direct financial losses. The real figures are higher, because plenty of businesses never report an incident at all.
Why having cyber cover is important
Cost is a big reason for protecting your business against cyber-attacks. The ransom or the stolen funds are rarely the biggest line item. Forensic investigation, system rebuilds, legal advice and lost trading time can add up, and you’ll have to pay for them whether or not you get the money back.
We’ve also seen many suppliers and customers request cyber policies from businesses, particularly those that handle sensitive customer data such as legal, finance, and healthcare forms. However, many business covers are centred around material damage and business interruption policies. These are built around physical loss, and cyber events are usually excluded.
Talk to Bonded NZ about cyber cover
Cyber insurance should not be a substitute for poor IT infrastructure. It should be a supplement to your existing company policies in privacy and data protection. If you’re looking for cyber cover, Bonded NZ offers a range of competitive covers that suit your budget.
Contact our team today to talk about your business needs.
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