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IT Liability
Woodina Underwriting Agency Pty Ltd
  • No contract required
Max Coverage AUD 20M

Coverages: Professional Indemnity

Woodina's IT Liability Insurance offers comprehensive protection for IT professionals and contractors by combining Professional Indemnity, Public Liability, and Product Liability into a single policy. This integrated coverage safeguards against legal liabilities arising from failures in IT products, services, or advice, addressing potential gaps when policies are purchased separately. Coverage limits extend up to $10 million for Professional Indemnity and up to $20 million for Public and Products Liability. 

Excess Layer
Woodina Underwriting Agency Pty Ltd
  • No contract required
Max Coverage AUD 10M

Coverages: Professional Indemnity

Woodina’s Excess Layer Insurance provides additional Professional Indemnity coverage above primary policy limits, offering extra protection for professionals exposed to high-value risks. Ideal for those in complex or high-stakes fields, it covers legal defence costs and compensation beyond standard limits. With flexible top-up options, this policy ensures professionals maintain strong financial protection and peace of mind against large or unexpected liability claims. 

Cyber Liability
FTA Insurance
  • Docs available F
  • No contract required
Max Coverage AUD 5M Min Premium AUD 1K/Year

Coverages: Cyber

FTA Insurance offers one of the market's broadest Cyber Liability policies, featuring comprehensive definitions without common limitations. The modular design allows customization to align with an insured's specific business profile. This policy provides robust protection against escalating cyber threats, ensuring businesses are well-prepared for potential cyber incidents.

Personal Cyber Protection
Emergence Insurance
  • No contract required
Max Coverage AUD 1M Min Premium AUD 99/Year

Coverages: Cyber

Emergence Insurance's Personal Cyber Protection Insurance offers comprehensive coverage for individuals and families against various cyber threats. The policy covers cyber events including, crimeware, cyber extortion and hacking, plus provides cover for identity theft, cyberbullying, cyberstalking, and cyber harassment. Coverage limits are flexible, starting from $50,000 up to $1,000,000, with base premiums beginning at $99 annually.

Information Technology Liability
FTA Insurance
  • Docs available F
  • No contract required
Max Coverage AUD 20M Min Premium AUD 600/Year

Coverages: Product Liability | Professional Indemnity | Public Liability

FTA Insurance's Information Technology Liability policy offers comprehensive coverage tailored for IT professionals. With limits up to $20 million, it features a full civil liability insuring clause, Extended Continuous Coverage, and Difference in Condition and Difference in Limits provisions.

Technology
CFC
  • No contract required
Max Coverage AUD 10M Min Premium AUD 500/Year

Coverages: Cyber | Directors and Officers Liability | General Liability | Legal Expenses | Professional Indemnity

Technology insurance from CFC is specifically designed for tech businesses, including software developers, IT consultants, and hardware manufacturers. It combines professional liability, cyber, intellectual property, and general liability coverage in one comprehensive policy. With expert claims support and global coverage, it protects against risks like service failures, data breaches, and IP disputes—helping tech companies innovate confidently in a fast-paced, competitive digital environment.

Information Technology
Keystone Underwriting Pty Ltd
  • Docs available S
  • Contract required
Max Coverage AUD 10M Min Premium AUD 500/Year

Coverages: Product Liability | Professional Indemnity | Public Liability

Keystone's Information Technology insurance provides tailored coverage for IT professionals against claims arising from alleged breaches of professional duty, personal injury, or property damage linked to their services. The policy includes a wide range of automatic and optional extensions offering limits up to $10 million. Preferred occupations encompass consultants, data service providers, designers, developers, distributors, manufacturers, project managers, suppliers, and website hosting services.

Information Technology
DUAL Australia
  • Docs available A S P
  • No contract required

Coverages: Product Liability | Professional Indemnity | Public Liability

DUAL Australia's Information Technology insurance offers a combined Professional Indemnity and Public Liability policy tailored for IT professionals. It provides coverage for legal defence costs and potential damages arising from client claims. The policy caters to various IT occupations, including software development, IT consulting, and website development, ensuring comprehensive protection against industry-specific risks.

Cyber and Technology Policy
Coalition Insurance Solutions Pty Ltd
  • Docs available F S P
  • Contract required
Max Coverage AUD 20M

Coverages: Cyber

Coalition's Active Cyber Insurance offers Australian businesses comprehensive coverage against digital threats, including ransomware and data breaches. This policy integrates continuous risk assessment, proactive protection through the Coalition Control™ platform, and expert incident response services. Additionally, it provides Technology Errors & Omissions coverage, safeguarding against liabilities from technology services or products. 

Cyber Excess Follow Form Policy
Coalition Insurance Solutions Pty Ltd
  • Contract required
Max Coverage AUD 20M

Coverages: Cyber

Coalition's Cyber Excess Follow Form Policy offers Australian businesses up to AUD 20 million in excess cyber liability coverage, complementing primary policies from other insurers. This policy can include drop-down cover for select sub-limited exposures, such as funds transfer fraud and social engineering, via endorsement. Policyholders also gain access to Coalition Control™, a cyber risk management platform, and a dedicated security support team. 

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What is Cyber insurance? 

Cyber insurance protects businesses from financial losses caused by cyberattacks, data breaches, and operational disruptions. It helps companies recover from incidents that impact systems or compromise sensitive information. Common policies include coverage for business interruption, ransomware, and liability for third-party damages. 

Australia's cyber insurance market has grown significantly, with gross written premiums estimated at around $200 million in 2024. Increased competition among insurers and improved cybersecurity practices have driven market expansion. Businesses of all sizes now consider cyber insurance essential for managing risks and ensuring operational continuity. 

Cyber insurance industry trends and emerging risks 

The Australian cyber insurance sector is changing rapidly due to increased digital reliance and new threats. Businesses face complex challenges requiring proactive measures and customised coverage. Brokers must prioritise these key areas: 

Global insurers and brokers are increasingly turning to advanced analytics and AI to assess risk and refine coverage. Australia’s privacy laws and rising costs challenge insurers to adapt quickly while providing affordable protection. 

Cyber insurance FAQs 

What exactly does cyber insurance cover? 

Cyber insurance provides financial protection against incidents like data breaches, ransomware, and system disruptions. Coverage includes response costs, lost income, and legal liabilities. Many Australian businesses rely on cyber insurance to mitigate risks and safeguard operations. 

What is the difference between cyber and data breach coverage?  

  • cyber insurance: broader scope, covering operational impacts like business interruption, ransom payments, and legal costs 
  • data breach insurance: focused on costs related to data privacy violations, such as notifications and identity theft monitoring 

What are common cyber insurance coverage options? 

  • business interruption: compensation for lost revenue during system downtime 
  • ransomware and extortion: coverage for ransom demands and negotiation services 
  • third-party liability: costs of defending lawsuits from data breaches or security failures 

How much does cyber insurance cost in Australia? 

SMEs typically pay annual premiums starting from $1,000, while larger organisations or high-risk industries may face much higher costs. Cyber insurance premiums in Australia vary significantly based on business size, industry, and specific coverage needs. Insurers evaluate factors like existing cybersecurity measures and claims history, so businesses with strong defences often receive more competitive premiums. 

Why is it difficult to get cyber insurance?  

  • rising cyberattacks and increasing loss ratios have made underwriting more stringent 
  • many insurers now require detailed risk assessments before offering coverage 
  • limited market capacity and high claim frequencies 

Is cybersecurity insurance worth it? 

Yes. For Australian businesses, cyber insurance offers financial security and expert support during incidents. It helps manage risks that could otherwise cripple operations. 

Who needs cyber liability insurance? 

Any business that uses digital systems or handles sensitive data can benefit. High-risk sectors include healthcare, finance, and retail, where data breaches can be devastating. SMEs, often underprepared for cyberattacks, increasingly rely on these policies. 

Who typically needs cyber insurance coverage? 

  • healthcare providers: protect patient records and meet compliance requirements 
  • financial institutions: shield customer data and secure transactional systems 
  • e-commerce businesses: manage risks from online fraud and data breaches 
  • education: secure student and staff data from breaches or leaks 

What is not covered by cyber insurance? 

Cyber insurance typically excludes incidents caused by negligence, intentional acts, or pre-existing vulnerabilities. Regulatory fines, war, and terrorism-related cyberattacks are also not covered. Businesses should carefully review their policies to understand exclusions and address any gaps through supplementary protections. 

Is cyber insurance mandatory in Australia? 

No, cyber insurance is not required by law in Australia. However, industries like healthcare and finance must follow the Privacy Act 1988, which requires strong data protection. Many businesses get cyber insurance to reduce the financial and operational risks of breaking these rules. 

How does cyber insurance help protect clients? 

Cyber insurance helps businesses recover quickly after cyberattacks or data breaches. This protection ensures businesses can continue operating while addressing financial and operational impacts. 

Why is it important for Australian businesses? 

  • financial protection: covers ransom payments, system repairs, and downtime losses 
  • legal support: assists with lawsuits and regulatory fines 
  • reputation recovery: helps rebuild trust after data breaches 

Australian businesses operate in a highly targeted cyberspace, with frequent ransomware and phishing attacks due to increasing digital adoption. Cyber insurance helps manage these unique risks by covering financial losses and offering expert crisis support.