Cyber Insurance Readiness Assessment

Cyber liability insurance is a policy that helps businesses recover financially after a data breach, ransomware attack, or other cyber incident. It typically covers costs including breach notification, forensic investigation, legal fees, regulatory fines, business interruption losses, and ransomware payments (where legal).

Cyber insurance premiums range from a few hundred dollars per year for small businesses with basic coverage to millions annually for large enterprises. Most small-to-mid-size companies pay between $1,000–$10,000 per year for $1M in coverage. Premiums are driven by industry, annual revenue, security posture, claims history, and coverage limits. Our free assessment gives you an estimated range based on your profile.

Cyber insurance typically excludes: pre-existing known vulnerabilities, acts of war (nation-state attacks in some policies), insider fraud above policy limits, reputational damage beyond specific coverage riders, and infrastructure improvements after an incident. Always review exclusions carefully — the best way to ensure coverage is maintaining strong baseline security controls.

Most carriers now require at minimum: multi-factor authentication (MFA) on email and remote access, endpoint detection and response (EDR) on all devices, regular encrypted backups tested for recovery, security awareness training, and a documented incident response plan. Higher-value policies also require privileged access management (PAM), vulnerability scanning, and network segmentation. Missing MFA alone can result in policy denial or exclusions.

Any company that stores customer data, processes payments, relies on IT systems for revenue, or faces regulatory requirements (HIPAA, PCI-DSS, SOC 2) should have cyber insurance. Practically speaking: if a ransomware attack would cost you more than your annual premium, you need coverage. Most companies should get coverage before their first security incident — not after.