Cyber attacks

Cyber Insurance

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What is Cyber Insurance?

Cyber insurance is designed to help cover your business’s financial losses if it falls victim to cybercrime. It can help cover a wide range of cyber related risks, and risks relating to information technology infrastructure. A claim under Cyber Insurance may cover financial losses your business suffers as a result of a cyber incident (known as first party cover), as well as losses suffered by third parties as a result of the incident (known as third party cover).

Cyber crime is no longer new news, and small businesses are not immune to the likelihood of cyber attacks. That’s why Cyber Insurance is an important cover to consider for any small business with a digital footprint.

Cyber Insurance options through Aon

CFC Micro SME Cyber InsuranceOther Cyber Insurances
May be available for online purchaseAvailable through an Aon broker
Complimentary access to CFC Response AppsAccess to CFC Response App available
with a CFC Cyber insurance policy
Cover for incident response; system damage
& business interruption; network security
& privacy liability & third party losses
up to certain limits1
Flexible coverage options
No cover for Media Liability & Technology
Errors & omissions
Flexible limits available based on your
business’s industry & needs
Maximum policy limit of $100,000Optional cover available for Media Liability
& Technology Errors & Omissions
Only available to businesses in selected
industries with annual revenue under $2,000,000
Can be arranged for businesses in a
wide range of industries & revenue

Get Complimentary access to CFC's Response App

When you purchase a CFC Cyber Insurance policy through Aon, you'll receive complimentary access during your cover period to CFC's bespoke suite of risk management services, delivered through their award-winning app, Response.

All you need to do is use your policy details to register. Take a look at the CFC Response App to learn more.

CFC Cyber Response app approved graphic

Difference between CFC’s Micro SME Cyber Insurance and other standard Cyber Insurances

The CFC Micro SME Cyber Insurance policy is an entry level policy which includes a maximum policy limit of $100,000. If this single limit is not sufficient for your business, please contact Aon to discuss alternative cyber insurance options. Remember, just as every business is different, so too is their digital footprint and the cyber insurance cover they require.

It’s important to carefully review the potential cyber risks that your business faces, along with the potential loss you could suffer following a cyber attack when deciding which cover option to select. You can also use tools such as the CFC ransomware calculator2 to estimate your business’s ransomware risk. Considering a combination of factors may give you an indication on whether an entry-level policy is appropriate for your business, or whether you need to consider another Cyber Insurance product.

Why Aon?

Don't just insure, be sure.

Industry expertise

Feel confident about your choice of insurance by talking with specialists in your industry

Local support

All brokers based in Australia

Global broker

Our global scale means we can negotiate competitive quality insurance products with insurers

Client education

We provide specialist resources on business insurance and risk management to help you stay on top of current and emerging risks in your industry


Who is not eligible for Micro SME Cyber Insurance?

A number of business types, including those with annual revenue over $2,000,000 will be referred to Aon to provide information about other cyber insurance products.

What’s is typically not covered by a Cyber Insurance policy?

Cyber Insurance policies contain exclusions and conditions which are important to understand. For example, Cyber Insurance will not cover any criminal activities or deliberate acts of wrongdoing by you; patent infringement; loss of economic value of your intellectual property assets; or power or utility failures. Refer to the policy wording for full details on exclusions under a Cyber Insurance policy.

Cyber Insurance is not intended to replace other types of more traditional insurance – such as public and product liability insurance or professional indemnity insurance.

Who are CFC?

CFC is the insurer who issues Micro SME Cyber Insurance, as well as other Cyber Insurance policies arranged by Aon. Learn more about CFC here. There are also other insurers who offer cyber insurance. If you’d like to know more about our insurer partners, please contact our team.

How can a cyber criminal attack my business?

Cyber criminals can use malware and viruses, computer and network hacking, denial of service attacks, social engineering or online scams to commit their crimes. For cyber criminals, it can be relatively easy to access computers and networks that do not have adequate security infrastructure.

Whilst a company can put in place various controls to protect their business, a significant number of cyber incidents are caused by human error. Mistakes such as clicking on a link or opening a malicious email can be enough to allow cyber criminals access to your network.

How can Cyber Insurance help?

Cyber insurance can help protect your balance sheet from the costs associated with cyber events. These can be large, particularly if sensitive personal data is breached, you lose access to critical business data or suffer downtime. The assistance of a specialist cyber incident response team, that is typically available with cyber insurance, may also be a worthwhile benefit. Engaging an incident response provider can be expensive, time-consuming and might not offer the expertise that is expected of an insurer’s incident response panel to tackle the situation head on.

What is Business Interruption?

Business Interruption cover is a feature available under Cyber Insurance which is designed to help cover your business’s loss of income which occurs as a result of an insured cyber incident, up to a specified period of time.

What is funds transfer fraud?

An unauthorised electronic transfer of funds from your bank; The theft of money from your bank by electronic means; The theft of money from your corporate credit cards by electronic means; and, any phishing or social engineering attack against any employee or officer that results in the transfer of your funds to an unintended third party. Cyber Insurance arranged by Aon gives you the option to be covered for fraud transfer fraud (up to a specified limit)3.

Ways to get in touch

Or call us on 1300 836 028, or email us on [email protected]

1 Subject to full policy terms and conditions.
2You can use the CFC ransomware calculator to estimate the potential costs you might incur as a result of a cyber ransomware incident. Please note that ransomware is just one part of the cyber risk landscape and there may be other cyber risks that businesses face. If you require more comprehensive cyber insurance or have any questions, please call us on 1300 836 028.
3Subject to full terms, conditions, exclusions and limits of the policy.