Cyber breaches are a rapidly emerging global risk, with the Australian Signals Directorate (ASD) receiving reports of cybercrime every six minutes on average, and the projected impact of ransomware alone causing up to $3 billion in damages to Australians each year*. Cyber breaches have become one of the biggest risks facing businesses today. QBE’s Cyber policy protects against a range of risks associated with digital technology and provides critical support in case of a cyber event.
What we cover
A cyber event can quickly disrupt or even cripple a company’s operations. QBE’s comprehensive Cyber policy offers bespoke coverage that guards against losses arising from both current and emerging cyber risks.
Coverage may include:
- Network Security and Privacy Liability
- Privacy Regulatory Proceeding
- Media Liability
- Event Expense
- Network Extortion
- Business Interruption
- Dependent Business Interruption
- Bricking
- Consequential Reputational Loss
- Reward Fund
- Cryptojacking
- Social Engineering.
Coverage highlights
- Worldwide protection
- 20% acquisition threshold, 90 days to notify
- Definition of claim includes non-monetary relief
- Blanket waiver of subrogation when required by contract
- 60-day automatic extended reporting period
- Coverage for liquidated damages if not in excess of the insured’s liability
- Event expenses include costs to temporarily store the insured’s electronic data at a third-party host location.
Target market
Broad capacity for cyber risk: from companies with fully outsourced IT networks to those with complex, large-scale IT systems.
QBE clients range from medium-sized enterprises to corporate / global corporations.
- Minimum revenue size $50m
- Primary and excess capacity up to $10m.
Risk appetite
- Broad capacity for cyber risk: from companies with fully outsourced IT networks to those with complex, large-scale IT systems.
- Broad appetite across all industry classes except public sector/government (federal, state, county, municipalities/councils, public schools, public healthcare, government agencies).
For more information
Contact your QBE relationship manager for more information or speak to our Cyber underwriter, Ben Richardson, [email protected]
Publications
QBE's 2025 'Click, breach, repeat' Australia Pacific cyber report
QBE 2025 cyber report Australia Pacific
Private equity firms enhancing cyber resilience of portfolio companies
QBE North America white paper
Cyber threats to the legal and professional services sector
QBE North America white paper
Cyber threats to the financial services industry
QBE North America white paper
Connected business: digital dependency fuelling risk
QBE Europe report
2024 Cyber Insurance Report
QBE North America report
You can download standard documents for our insurance products from the document library. If you’re looking for co-branded or tailored documents, please contact your QBE Broker Manager.
* ASD (2023). ASD Cyber Threat Report 2022–2023. 2023–2030 Australian Cyber Security Strategy