Cyber threats continue to grow in both frequency and sophistication, affecting businesses of every size. During the 2024–25 financial year, the Australian Cyber Security Centre (ACSC) received more than 84,700 cybercrime reports, with self-reported losses for businesses increasing by 50% compared with the previous financial year. A cyber incident can lead to financial loss, business interruption, regulatory action and reputational damage. Even businesses with strong cyber security measures can become targets, making Cyber Insurance an important part of a comprehensive risk management strategy. Cyber Insurance is designed to help protect your business against the financial impact of cyber incidents, with cover that may include:
- Privacy breach & crisis management costs
- Privacy & security liability
- Cyber extortion
- Business interruption
- Data recovery & system damage
- Regulatory defence & fines
- Media liability