7 out of 10 Managers aren’t sure about this
Most Village Managers know whether their village has property insurance. But when it comes to cyber insurance, many simply don’t know.
That was one of the most telling insights from two recent DCM Institute masterclasses on cybersecurity with Comwire IT Director Lee Shrimpton.
When participants were asked whether their operator had cyber insurance in place, around seven in ten managers said they weren’t sure.
It’s not surprising.
Cybersecurity often sits somewhere between head office, IT providers and insurance brokers. For Village Professioanls focused on residents, operations and sales, it can feel like a technical issue happening somewhere else.
But the reality is changing quickly.
Cybercrime in Australia is now reported every six minutes, with phishing emails, invoice scams and banking fraud among the most common attacks targeting businesses.
And many attacks today don’t rely on sophisticated hacking. They rely on people.
Lee shared a recent example where a staff member received an email that appeared to come from a senior executive requesting payment of an invoice. It looked legitimate. The language was professional.
But it was fake.
The result was a $4,000 loss.
Today’s scams are getting harder to detect. Cybercriminals are using AI to generate convincing messages and impersonate trusted contacts inside organisations.
And retirement villages are increasingly in the firing line.
“The ageing population is being highly targeted.”
– Lee Shrimpton, Comwire IT
Operators also hold large amounts of sensitive information about residents. That means the impact of a breach can extend well beyond the business itself.
At the same time, villages are becoming more connected.
Computers, mobile phones, smart TVs, building management systems and emergency call systems are all now linked to networks.
Each connection adds convenience. It also adds risk.
As Lee explained during the session:
“Anything you connect to your network will actually pose a risk.”
This doesn’t mean Village Professionals suddenly need to become cybersecurity specialists. It does mean cyber awareness is being added to the increasingly complex job description.
There are some simple conversations every village should be having:
- Do we have a trusted IT partner managing our systems?
- Are basic protections like multi-factor authentication in place?
- Are staff and residents aware of common scams?
- Importantly, do we have cyber insurance, and what does it actually cover?
This last point is increasingly important.
Traditional business insurance policies such as professional indemnity or business interruption often exclude cyber incidents. Dedicated cyber insurance is designed to cover those risks instead.
With many villages now entering their annual budget planning cycle, this is the right time to ask the question. The cost likely flows through.
Village Managers don’t need to have all the answers. They should feel confident asking up the line because cybersecurity is no longer just an IT issue.
It’s increasingly about protecting our staff, residents and our business.
You may also like
Are We Still Really ‘Independent Living’?
Learning deserves KPIs too
