Cyber Liability Insurance

In today's digital world, it's not a matter of if you'll experience a Cyber loss, but when.

Cyber insurance isn't just for tech companies, it's an essential layer of protection for any modern business. If you:

• Store customer data;
• Accept online payments or use EFTPOS;
• Rely on cloud-based systems;
• Communicate with clients via email; or
• Have remote employees

... then your business is exposed to Cyber risk.

What is Cyber Liability Insurance?

Cyber Liability Insurance is designed to protect businesses from the financial fallout of cyber incidents. This includes data breaches, ransomware attacks, phishing scams, and accidental data loss.

It’s not just about IT systems—it’s about business continuity, legal compliance, and protecting your reputation.

What Does Cyber Liability Cover?

A well-structured Cyber Liability policy typically includes:

• Incident response costs – including forensic investigation, legal advice, and crisis communications.
• Data breach expenses – such as customer notification, credit monitoring, and regulatory fines (where insurable).
• Business interruption – covering lost revenue due to system downtime.
• Cyber extortion – including ransomware payments and negotiation costs.
• Third-party liability – if your breach impacts clients, suppliers, or partners.

What’s Not Covered?

While policies vary, common exclusions include:

• Known or prior breaches not disclosed at the time of application
• Intentional acts or fraud by the insured
• Infrastructure failures outside your control (e.g. power grid outages)
• Fines and penalties that are legally uninsurable in Australia

We’ll help you understand the fine print—so there are no surprises at claim time.

Are There Optional Extras?

Yes. Depending on your risk profile, you may consider:

• Social engineering fraud cover – for losses due to deceptive manipulation (e.g. fake invoices)
• Reputational harm cover – for PR and brand recovery costs
• System restoration – for rebuilding or replacing compromised IT infrastructure

We work with you to tailor cover that fits your business—not just a generic policy.

Common Mistakes When Buying Cyber Cover

Many businesses fall into these traps:

• Underestimating exposure – assuming “it won’t happen to us”
• Choosing the cheapest policy – without understanding coverage gaps
• Failing to update coverage – as the business grows or changes
• Not involving IT and legal teams – in the insurance conversation

We take a proactive, advisory approach—so you get the right cover, not just a policy.

How Are Premiums Calculated?

Cyber premiums are based on several factors, including:

• Industry and business size
• Annual turnover
• Volume and sensitivity of data held
• Cybersecurity controls in place
• Claims history and risk profile

We work with leading insurers to negotiate competitive premiums—backed by expert advice and ongoing support.

Why Edgewise?

At Edgewise, we don’t just sell policies—we build protection strategies. Our team combines extensive insurance expertise with a practical understanding of cyber risk.