• IAG’s WFI Insurance research flagged a gap in cyber risk readiness in Australian agriculture, with only 25% of farmers considering cyber insurance as a future need versus 70% across the broader business population.
• The analysis linked the exposure to rising digitization, citing that about 80% of farms now use some form of agri-tech, which expands potential attack surfaces across operational technology.
• Risk scenarios highlighted included intrusions into smart irrigation systems or automated machinery, with potential to halt operations during harvest or livestock cycles, raising supply-chain disruption risk.
• Coverage take-up also lagged the wider SME market, with about 20% of Australian SMEs holding cyber insurance, while the average cost of cybercrime rose 50% between FY24 and FY25 to $56,000 for a small business.
• The report noted cyber insurance products increasingly bundle risk transfer with preventative monitoring tools, supported by 24/7 incident response, as underwriting shifts toward active risk management.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. IAG - Insurance Australia Group Limited published the original content used to generate this news brief on May 22, 2026, and is solely responsible for the information contained therein.