There is no one set cost for cyber protection, as it will ultimately depend on the risks you face, the industry you’re in and the amount of cover you require. Other variables, such as the state you live in, the size of your business, and your insurance history, will also feed into the cost of your cyber insurance.
In Australia, the cost of insurance is higher overall in northern states and territories (such as Queensland and the Northern Territory) than in the southern regions of the country.
However, cyber liability insurance is generally affordable, with the cost of this policy comparing very favourably with the cost of professional indemnity insurance, for example.