The rising threat of cybercrime to small business, and why insurance matters

With over 30 years of experience in the insurance industry, Brenden Townsend, knows a thing or two about navigating wordy policy documents and avoiding costly surprises. Now, with the additional threat of cybercrime he’s cautions owners to ensure their business insurance is up to task.

For many individuals and business owners, dealing with insurance can feel like stepping into a maze. It’s full of complex terms, endless fine print, and uncertainty about what exactly is covered.

This is where Brenden, the Managing Director at Greenlight Insurance Brokers comes in. His company helps clients navigate the grey areas of insurance with 42 staff and 9 office locations across Aotearoa.

Specialising in underwriting, claims management, and broking, Brenden brings a wealth of industry experience, a deep understanding of risk, and a commitment to providing clients with clear, practical advice.

“The insurance world is full of jargon, and policies often don’t mean what people think they do.

“Our role as brokers is to bridge that gap, interpret the fine print, and make sure our clients are genuinely covered when they need it most,” says Brenden.

He says that many people assume they can manage their insurance directly with providers, often seeking out the lowest price.

However, this approach can lead to unexpected gaps in coverage highlighting the benefits of working with insurance brokers.

“Insurance companies are there to sell policies, and while they do provide coverage, they don’t necessarily have an obligation to tell you what’s missing. Brokers, on the other hand, work for the client and not the insurer. Our job is to advocate for the best possible protection, tailored to individual needs.”

A key advantage of working with a broker, he says, is their ability to handle claims on your behalf, often more efficiently. When a claim arises, policyholders often face long wait times, unclear processes, and even disputes over coverage. Brokers step in to manage this process, ensuring clients receive fair and timely settlements.

“One of our clients had a business interruption claim where they were initially offered half of what they were entitled to. Because we knew the policy inside out, we pushed back, and they ended up getting the full amount. That’s the difference a broker makes.”

Insurance doesn’t have to be boring

Brenden says that at the heart of Greenight’s success is the company’s focus on personalised service.

“Greenlight prides itself on building long-term relationships with clients, having brokers around the country, who can drop everything and visit customer’s site, when necessary,” Brenden says.

“It’s not just about selling insurance – it’s about understanding people and their risks. Sometimes that means having tough conversations, but ultimately, we’re here to make sure people have the right protection in place.”

A key aspect of Greenight’s approach is helping clients navigate the often-confusing language of insurance.

Brenden says that many terms don’t mean what they appear to at face value, and policies can contain exclusions or conditions that aren’t immediately clear. But that doesn’t mean the process has to be dry or overwhelming.

“We break things down in a way that makes sense and ensure our clients feel confident about what they’re covered for.”

Some of these details can make or break a claim, he adds.

“I had a client who thought they were covered for a flood, but their policy excluded surface water runoff, which is the most common cause of flooding. Our job is to ensure there are no nasty surprises.”

As Greenight Insurance Brokers has grown over the years, the company has embraced change, not just in size and offerings, but in how it presents itself to the market undergoing a rebrand a few years ago.

“We wanted a brand that aligns with where we’re headed as a business. Insurance is evolving rapidly, and we’re staying ahead of the curve to offer our clients the very best in risk management and protection.”

Beyond its refreshed identity, Greenight has invested in digital tools to streamline processes, improve client communication, and enhance service delivery.

The company also partnered with the Chiefs Rugby Club, aligning with a younger market in Waikato and strengthening its connection to the local community.

“Rugby is a big part of Kiwi culture, and the Chiefs embody the same principles we do – preparation, protection, and having the right team behind you. It was a great fit for us as we continued to grow.”

Cybersecurity claims skyrocket

Greenlight Insurance Brokers initially built a reputation for its specialised work in trucking and rural insurance.

Over the years it’s expanded to cover aviation, forestry, personal and business insurance, offering solutions that go beyond standard policies.

Brenden says that cybersecurity has emerged as one of the fastest-growing areas of concern with claims skyrocketing.

While large corporations have long been targeted by cyber criminals, small businesses and even individuals are now facing significant threats.

“A lot of people assume cybercrime is just a big business problem, but we’re seeing more and more ‘mum and dad’ businesses hit with attacks.”

One recent case involved a client who fell victim to a sophisticated phishing scam, resulting in a $40,000 loss.

“It’s a huge financial hit, and without cyber insurance, many businesses wouldn’t survive these losses,” Brenden says.

He says that Greenlight Insurance Brokers provides tailored cybersecurity policies that go beyond standard coverage, offering protection against ransomware, phishing scams, data breaches, and financial fraud.

“The goal is to ensure that businesses, big and small, have a safety net in place when an attack happens.

“Business owners need to understand that cyber risks aren’t going away. Having the right insurance in place isn’t just a precaution, it’s essential for survival.”