Cyber Insurance Brokers Australia
Cover for Data Breaches, Ransomware and Digital Fraud. Protecting your business from the financial and reputational cost of cybercrime.
6 Mins
Incident Frequency
CFC
Market Access
24/7
Incident Response
Recognition
Cybercrime is reported in Australia every six minutes on average. For small businesses, the cost of a single incident can run into tens of thousands of dollars, and that's before you factor in the disruption, reputational damage, and time spent recovering.
We help clients assess whether the cyber cover they have is still fit for purpose. Often businesses start with a cyber extension on an existing policy, which can work for a while. But as you grow, handle more data, or rely more heavily on digital systems, a standalone cyber policy usually makes more sense.
POLICY COMPARISON
Standalone Cyber Insurance vs Policy Extensions
Many businesses have a cyber extension attached to their Professional Indemnity or Management Liability policy. These can be a reasonable starting point, but they're often limited in what they cover.
01
First-Party Cover (Your Costs)
This covers what happens to your business directly. That includes forensic investigation to find out how a breach happened, data restoration costs, business interruption while your systems are down, and costs associated with notifying affected customers.
02
Third-Party Cover (Your Liability)
This covers claims made against you by others. If a client's data is compromised because of a breach in your systems, you may be liable for their losses.
03
Cyber Crime & Fraud
Some standalone policies include cover for direct financial loss caused by cyber crime, including social engineering fraud where someone tricks your staff into transferring money to the wrong account.
04
Broad Data Protection
If your business handles sensitive data, processes payments, or relies heavily on email for transactions, it's worth looking at whether a standalone cyber policy would serve you better.
CRISIS MANAGEMENT
Incident Response: What Happens After a Breach
Forensic IT Specialists
To identify what happened and stop further damage.
Legal Guidance
On your obligations under the Notifiable Data Breaches scheme.
Ransomware Support
Including negotiation if needed, and technical help to restore your data.
RISK ASSESSMENT
Is Cyber Insurance Something Your Business Needs?
It depends on what you do and what data you hold. Cyber insurance is worth considering if your business fits any of the criteria below.
How We Help
We work with a range of cyber insurers, including specialist markets like CFC and Coalition. We can help you compare options and find a policy that fits your risk profile and budget.
We're based in Sydney and the Sunshine Coast, but we work with businesses across Australia.