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Fintech
CFC
  • No contract required
Max Coverage AUD 5M Min Premium AUD 5K/Year

Coverages: Crime | Cyber | Directors and Officers Liability | Employment Practices Liability | Professional Indemnity | Property and Casualty

CFC's Fintech Insurance provides tailored coverage for businesses at the intersection of finance and technology. This modular policy combines essential protections, including Errors and Omissions (E&O) for financial and tech liabilities, cyber risk, and crime coverage. Key features encompass enhanced cyber protection with incident response services, crime coverage addressing social engineering and client fund theft, and breach of contract coverage.

eHealth
CFC
  • No contract required
Min Premium AUD 3K/Year

Coverages: Bodily Injury | Crime | Cyber | General Liability | Legal Expenses | Professional Indemnity

CFC's eHealth insurance offers tailored coverage for digital health businesses and tech-integrated healthcare providers. Key features include protection against bodily injury from cyber events and system outages, technology errors and omissions (E&O), automatic coverage for physicians and medical practitioners, and cyber and privacy liability coverage. This comprehensive policy addresses the unique risks at the intersection of healthcare and technology.

Cyber Event Protection
Emergence Insurance
  • No contract required
Max Coverage AUD 10M Min Premium AUD 400/Year

Coverages: Cyber

Emergence Insurance's Cyber Event Protection policy offers comprehensive cyber insurance for SME businesses. The core policy includes losses to your business, loss to others, and cyber event response costs. Optional coverages include non-IT contingent business interruption and system failure, criminal financial loss, socially engineered theft, directors and officers' liability, tangible property, and joint venture cover.

Cyber
DUAL Australia
  • Docs available A S P
  • No contract required

Coverages: Crime | Cyber

DUAL Australia's Cyber Insurance provides comprehensive coverage for businesses against cyber threats, including privacy breaches, network security failures, and cyber extortion. The policy covers third-party liabilities, business interruption losses, data restoration, and response costs such as IT forensic investigations and legal expenses. Coverage is also available via optional extension for direct financial losses incurred due to social engineering and cyber fraud. Every DUAL Cyber Insurance policyholder enjoys round-the-clock access to a dedicated incident response team backed by a panel of specialist technical vendors, offering immediate assistance in effectively managing and mitigating the potentially severe consequences of a cyber incident.

Cyber
ATC Insurance Solutions
  • Docs available F
  • No contract required

Coverages: Business Interruption | Cyber | Media Liability

Wholesale
Agile Underwriting Services
  • No contract required

Coverages: Hard to Place Liability

Agile Underwriting Services specializes in placing hard-to-place, difficult, and distressed risks through their Wholesale division. Leveraging deep connections with Lloyd's in London, they source capacity for clients facing reduced cover or capacity in the market. Their expertise encompasses a range of risks, including Financial Institutions, Professional Indemnity, Directors and Officers for ASX Public Companies, and Cyber risks for businesses with over $500 million in revenue. 

Ansvar Management Liability
Ansvar Insurance Ltd
  • Docs available A P
  • No contract required
Max Coverage AUD 35M
Commercial Package
Allied World Assurance Company Holdings, GmbH (Australia)
  • No contract required
Miscellaneous Professional Indemnity
Brooklyn Underwriting Pty Ltd
  • Docs available A S P
  • No contract required
Max Coverage AUD 20M
Cyber
Brooklyn Underwriting Pty Ltd
  • Docs available A P
  • Contract required
Max Coverage AUD 5M
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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.