Cyber Insurance

Protection from digital threats, data breaches, and cyberattacks.

Cyber insurance protects businesses from financial losses due to cyberattacks and data breaches by covering costs like legal fees, data recovery, and customer notification.

Coverage Overview

What Cyber Insurance Covers

Cyber insurance protects businesses from financial losses due to cyberattacks and data breaches by covering costs like legal fees, data recovery, and customer notification. It acts as a safety net against cyber risks such as ransomware, malware, and phishing, and can help with crisis management, system repairs, and business interruption.

  • Breach investigation
  • System and data restoration
  • Customer notifications
  • Credit monitoring services
  • Lost income due to downtime
  • Ransom payments (in some policies)
Coverage Items
Breach Investigation Included
Data Restoration Included
Customer Notifications Included
Credit Monitoring Included
Business Interruption Included
Ransom Payments Policy-dependent
Cybercrime Data

Cybercrime by the Numbers

One of the main drivers of cyber insurance market growth is the rise in the number and severity of cybercrimes. Here are the most noteworthy statistics:

880K+
Cybercrime Reports Surge
The FBI's IC3 received over 880,000 complaints in 2024, with losses exceeding $12.5 billion — a 22% increase from 2023.
350M
Data Breach Victims
In 2024 alone, data breaches compromised nearly 350 million victims — a 72% increase from the previous all-time high.
70%
Cyber Attacks Most Common
Of those familiar with cyber insurance, 70% have experienced a cyberattack, followed by identity theft at 69%.
$23B
Identity Fraud Losses
Identity fraud caused $23 billion in losses in 2024. The average victim spent 10 hours resolving fraud issues.
44%
Ransomware Record High
Ransomware was involved in 44% of all breaches and 75% of system-intrusion breaches in 2024.
2025 Outlook

Key 2025 Cybersecurity Insurance Statistics

$115K Average claim value
60% Large claims driven by ransomware
33% Claims from manufacturing firms
54% AI phishing success rate
62% Firms with coverage in 2025
  • Ransomware is the key driver of cyber insurance claims, accounting for 60% of large claims in 2025.
  • Manufacturing firms lead all industries — representing 33% of total cyber insurance claims.
  • AI-powered phishing attacks are achieving a 54% success rate — a dramatic increase compared to traditional methods.
  • Adoption is accelerating — 62% of firms now have a cyber policy in 2025, up from just 49% in 2024.
Threat Coverage

What It Protects Against

Comprehensive protection across the full spectrum of modern cyber threats — from sophisticated ransomware to accidental data loss.

Ransomware
Coverage for ransom demands, recovery costs, and business interruption from encryption-based attacks.
Malware & Viruses
Protection against malicious software designed to damage, disrupt, or gain unauthorized system access.
Phishing & Social Engineering
Coverage for losses from deceptive emails, impersonation schemes, and manipulative fraud tactics.
Data Breaches
Full coverage for investigation, notification, regulatory fines, and credit monitoring after a breach.
Denial-of-Service Attacks
Protection against DDoS attacks that overwhelm systems, causing costly downtime and revenue loss.
System Errors & Accidental Loss
Coverage for unintentional data deletion, configuration errors, and human mistakes causing data loss.

Ready to Protect Your Business?

Get a personalized cyber insurance quote tailored to your industry, size, and risk profile. Our advisors will walk you through your options.

Get a Quote Learn More
Login
Get Appointed