What’s behind the current surge in cyber claims in Australia?

In consequence, incidents that may beforehand have gone unreported are actually formally lodged as claims. One other prime driver of those cyber claims is related to the comparatively low uptake of cyber insurance coverage. “In comparison with the US and UK, many small to mid-sized Australian companies are nonetheless maturing their cybersecurity posture,” stated Hart. “This creates larger publicity to preventable incidents, particularly enterprise e-mail compromise (BEC), credential theft, and ransomware.”