Cyber Insurance premiums are based on several factors:

• Your industry and type of work – Businesses that handle sensitive customer data, operate online platforms, or provide professional services are generally seen as higher risk.

• Annual turnover – Insurers often use your turnover to assess the potential scale of exposure and calculate premium bands.

• Cybersecurity measures – The strength of your IT systems plays a big role. Insurers will look at things like multi-factor authentication, backup procedures, staff training, endpoint protection, and patch management.

• Claims history – If your business has previously made cyber claims or experienced breaches, this may impact pricing or availability of cover.

• Coverage level – Higher sums insured or lower excesses will generally attract higher premiums.

• Regulatory risk or contract requirements – Businesses working in health, finance, or government contracts may face stricter underwriting due to compliance obligations.

For smaller businesses with basic exposure and good security controls, premiums may start around $800 per year. High-risk industries, larger businesses, or those requiring comprehensive cover may see costs significantly higher.

Some insurers now offer “active” cyber policies, which price premiums dynamically based on ongoing monitoring and your business’s cyber health throughout the year.

Contact us to discuss your situation and receive a tailored quote.