Australians are more dependent than ever on technology.

With the pandemic propelling trends that existed pre-COVID-19, technology, and therefore cyber risk, is now woven into almost every aspect of our lives and social fabric. 

In such an environment, it is crucial there is a vibrant and resilient risk management framework and infrastructure for cyber risk.

Cyber risk insurance is a key part of that and the focus of this Green Paper.

Cyber crime on the rise

In Australia with a cyber crime reported every eight minutes over the past financial year —an increase of 13 per cent on the previous year.

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