Cyber Liability Insurance
Protect your business from cyber threats, data breaches, and online security incidents with comprehensive digital coverage.
Why Cyber Liability Insurance is Critical
With cyber attacks increasing dramatically, Australian businesses face unprecedented digital risks. Protecting your data and systems is no longer optional.
47M
Data breaches in Australia during 2024 (one every second)
$4.26M
Average breach cost for Australian businesses in 2024
22%
SME owners impacted by cybercrime in 2024
Australia recorded 595 data breach notifications between July and December 2024, a 15% increase and the highest number since the scheme commenced in 2018. The Australian cyber insurance market was valued at USD $397.60 million in 2024, projected to reach USD $1.99 billion by 2033 (17.49% CAGR).
Average cyber attack costs Australian SMBs $122,000, with 60% of small businesses closing within six months of a cyber attack. Standard business liability policies typically exclude losses from cyber events.
Ransomware remains the leading cyber threat in 2025, with claims rising by 32.5% in 2024. About half of Australian SMEs invest less than $500 a year in cybersecurity tools, making them easy targets. Roughly half of all cyber incidents affect smaller enterprises with fewer resources for updated security systems.
What Cyber Liability Insurance Covers
First-Party Costs
Direct costs your business incurs as a result of a cyber incident.
- Data breach response and notification costs
- Cyber extortion and ransomware payments
- Business interruption and income loss
- Damaged hardware and IT infrastructure
- Crisis management and PR expenses
Third-Party Claims
Legal liability for claims made against you by customers, partners, or vendors.
- Legal defence costs and settlements
- Privacy law violations and regulatory fines
- Customer notification and credit monitoring
- Media liability for digital content
- Network security failure claims
Who Needs Cyber Insurance?
Your business should strongly consider cyber insurance if you:
Online Presence
Have a website, e-commerce platform, or online business operations
Store Data Online
Maintain customer data, business records, or sensitive information digitally
Process Online Payments
Accept credit cards, online banking, or digital payment methods
Contractual Requirements
Required by vendors, partners, or industry regulations
Coverage Limits and Costs
Coverage Amounts
Coverage limits typically range from $1 million to $20 million depending on your business type, industry, and contractual requirements.
Average Premium
$134
per month for BizCover customers
Cost Factors
Your premium will vary based on:
- Business size and annual revenue
- Industry and cyber risk exposure
- Security measures implemented
- Amount and type of data stored
Our Trusted Underwriting Partners
We partner with leading cyber insurance underwriters to provide comprehensive protection:
Chubb Insurance
Comprehensive cyber insurance solutions for businesses of all sizes with industry-leading response services
Marsh Australia
Cyber security insurance expertise with tailored risk management solutions
BizCover
Specialized cyber liability coverage for small and medium businesses
Zurich Australia
Enterprise cyber risk solutions with global expertise and local support
QBE Insurance
Cyber insurance products covering breach response and business interruption
Allianz Commercial
Advanced cyber liability coverage with proactive risk management services
Protect Your Business from Cyber Threats
Don't wait for a cyber attack to happen. Get comprehensive cyber liability insurance tailored to your digital risks.