Cyber insurance
Also called: cyber liability insurance
In one sentence
Insurance that helps cover the costs of a cyber incident: breach response, ransomware, lost income, liability.
Cyber insurance (or cyber liability insurance) covers costs from incidents like data breaches, ransomware, and funds-transfer fraud, including forensics, legal, notification, business interruption, and third-party claims. Coverage and requirements vary widely by carrier.
Why it's on your cyber insurance application
The thing you're applying for. What's changed is that the application is now a security review: the controls you can evidence decide whether you're quoted, at what price, and with which exclusions.
What this looks like in practice
Two questions worth asking a broker before you compare prices: what does this pay for in the first 48 hours of a ransomware event, and which incident-response vendors do we have to use for coverage to apply. Most of the value in a cyber policy is the response team it puts on the phone, not the limit on the front page.
The written evidence carriers accept
A “yes” on the application needs a document behind it. In the Readiness Pack, that document is:
- Application-Mapping Guide: Which Document Answers Which Question (preview its opening sections)
Where this comes up by trade
Some trades get asked about this harder than others, usually because a rule or a claim pattern already points at it. These pages have that detail.
Related terms
Would you pass this question today?
The free Readiness Check scores you across the ten control domains carriers probe, in five minutes, no email required for the score.