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Cyber insurance
If your business stores customer information, takes card payments or runs on email and software, a single hack can shut you down. Cyber insurance pays for the response and the recovery.
The short answer
Cyber insurance covers the costs of a data breach or cyberattack: investigating what happened, notifying affected customers, restoring systems and data, lost income while you’re down, and lawsuits or regulatory claims that follow. Many policies also help with ransomware and funds stolen through fraudulent emails. Most general liability and property policies cover little or none of this.
Medical and dental offices, law firms, real estate offices, accountants, retailers, restaurants that take cards, and any business that keeps client records digitally. Florida’s data breach law requires businesses to notify affected people after certain breaches, and that alone can be costly.
Carriers often ask about multi-factor authentication, backups and employee training. Having them in place can improve your options and pricing.
Small businesses are frequent targets because they often have fewer defenses. If you’d struggle to cover the cost of a breach response or weeks of downtime, it’s worth a look.
Many policies cover ransomware response and recovery, subject to the policy’s terms and limits. We’ll show you how each policy handles it.
Some include a small cyber endorsement, often with low limits. A standalone cyber policy usually offers much broader protection.
