Partnering with the right Technology Partner can lower your premiums and better protect your business from financial loss.
Why Cyber Insurance Matters, But It’s Not Enough.
Cyber insurance is an essential safeguard for most Small Medium Enterprises (SME’s), covering the financial fallout of cyber attacks like data breaches, ransomware, and payment fraud.
It helps with recovery costs, from digital forensics and legal advice to business interruption and reputation management. But insurance alone isn’t enough. It doesn’t stop an attack from happening, and many policies won’t respond without strong preventative measures in place. As cyber threats become more frequent and sophisticated, insurers are raising the bar, rewarding businesses that demonstrate robust cyber defences, clear data policies, and proactive risk management.
A recent review of Australian claims shows businesses of all sizes being hit hard, from a $3M fraud in real estate to $250K losses in property development.
Remember, insurance helps you recover, not prevent an event. Just like locking your doors reduces the likelihood of burglary, strengthening your IT environment lowers the chances (and cost) of a breach, and can lead to premium discounts.
In short, Cyber insurance is your safety net, but prevention starts with your Strategic Technology Partner
Real-World Claim Examples
Email Fraud & Payment Redirection (Social Engineering)
A property developer lost $250,000 after transferring funds to a hacker who spoofed a trusted consultant’s identity.
A real estate firm was defrauded of $3M, only recovering part of it, their insurer covered the remaining $230,000.
Ransomware Attacks
A medical practice was locked out of patient records and required legal and forensic recovery services, insurer paid $63,000.
Another firm, thanks to expert negotiation support, avoided paying a ransom entirely and restored operations without cost.
Business Email Compromise
A compromised Microsoft 365 account led to client payment redirection, phishing attacks, and legal consequences.
An accountant’s server breach exposed 800 client records, triggering privacy obligations and $90,000 in response costs.
These real-world events show that no business is too small, and no industry is immune.
How Working with LEAP Strategies Reduces Your Premium
Insurers reward businesses who demonstrate strong cyber posture, and we can help you achieve that. We do this by ensuring:
Multi-factor authentication (MFA) enabled across all users and apps
Secure, tested, offline backups of critical data
Regular vulnerability scans, penetration tests, patching, and risk assessments
Implementation of an Incident Response Plan, aligned with industry best practice
Cyber awareness training and phishing simulations for staff
Acting as your Virtual CIO (vCIO) to proactively manage risk and provide insurer-aligned documentation
By adopting recognised frameworks like the Essential Eight, your business becomes not only more secure but also significantly more insurable, often qualifying for lower premiums and broader coverage.
What We Do, LEAP’s Strategic Approach
At LEAP Strategies, we are a Strategic Technology Partner to SME’s and we exist to help your business:
Reduce cyber risk through proactive planning, system hardening, and ongoing oversight.
Align your IT environment with the controls and benchmarks insurers expect.
Identify and remediate vulnerabilities before attackers, or underwriters, find them.
Navigate cyber incidents with expert support across legal, technical, and reputational fronts.
Improve insurability and resilience by embedding security into your day-to-day operations.
LEAP ensures your technology isn’t just functional, it’s a business asset that protects your bottom line.
Take Action and Protect Your Business Today.
Make you next step now:
Book a Cyber Strategy Call
Get Your IT Risk Assessment
Download our Business Email Compromise Whitepaper
Join Us Today
Choosing LEAP Strategies means you’re choosing a partner that goes the extra mile.
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