As Australian organisations grapple with mounting cyber threats, tougher regulations and rising insurance premiums, Google Cloud has announced the expansion of its industry-first Risk Protection Program (RPP) to Australia. The program, now strengthened by new global insurance partners Beazley and Chubb, offers a powerful new avenue for businesses to access smarter, data-driven cyber insurance.
The move comes as the local market responds to an increasingly complex cyber risk environment. New APRA standards — CPS 230 (Operational Risk Management) and CPS 234 (Information Security) — are setting a higher bar for resilience, while insurers are tightening underwriting requirements and lifting premiums in response to high-profile ransomware attacks across healthcare, logistics and retail sectors.
Google Cloud’s Risk Protection Program addresses these challenges by linking security posture with insurance outcomes — enabling organisations to demonstrate their defences and be rewarded for them. Customers can use the program’s Cyber Insurance Hub to generate real-time reports on their cloud security and share them directly with insurers, streamlining the underwriting process and enabling personalised pricing based on actual risk.
“With our expanded Risk Protection Program, we’re working hand-in-hand with insurers to improve risk visibility and enable smarter underwriting,” said Monica Shokrai, Head of Business Risk and Insurance at Google Cloud. “This is an opportunity for organisations to use the cyber insurance procurement process as a catalyst for better security hygiene — and be rewarded with broader and more affordable protection.”
Key features of the Risk Protection Program:
- Smarter, data-driven underwriting: The Cyber Insurance Hub leverages real-time insights from Google Cloud’s Security Command Center, reducing friction in insurance applications and helping insurers better understand actual cloud risk.
- New partners, expanded reach: Global insurers Beazley and Chubb join founding partner Munich Re, with expanded support through Munich Re Specialty and HSB for SMEs.
- Support for emerging threats: New offerings include Affirmative AI coverage for Google Cloud workloads and protections against future quantum computing risks.
- Simplified access for digital natives: For eligible cloud-native businesses, Beazley offers a one-page attestation in place of complex insurance applications.
- Free credits to strengthen security: New Google Cloud customers receive $300 in credit and access to 20+ free security tools.
This expansion marks a significant step in making cyber insurance more accessible, responsive, and aligned with real-world conditions in the cloud. It also responds to insurer concerns around visibility and standardisation of cloud risk — helping bridge the gap between IT security teams and underwriters.
“We were early adopters of RPP and it’s transformed our process,” said Justinian Fortenberry, CISO and VP of Engineering at Etsy. “It makes insurance renewals more efficient, and the transparency helps us proactively engage with insurers.”
Frank Caserta, CISO at LiveRamp, added: “This program enhances compliance monitoring, simplifies reporting, and strengthens trust in how we manage data responsibly.”
With cyber incidents continuing to rise and regulatory scrutiny intensifying, Google Cloud’s Risk Protection Program offers a timely and practical solution for Australian organisations seeking to boost resilience and unlock more favourable cyber insurance outcomes.