CYBER INSURANCE

Protecting your business in a digital-first world

Cyber Insurance helps businesses manage the financial and operational impact of data breaches, cyberattacks, and technology-related incidents. As companies increasingly rely on digital systems, cloud platforms, and electronic data, cyber risk has become one of the most significant exposures facing organizations of all sizes.

Cyber incidents don’t just affect large corporations — small and mid-sized businesses are frequent targets.

What Cyber Insurance Covers

Cyber Insurance typically provides coverage for:

Data Breaches & Privacy Incidents
Costs associated with unauthorized access to sensitive or confidential information.

Ransomware & Cyber Extortion
Expenses related to ransomware attacks, including negotiation, response, and ransom payments (where permitted by law).

Business Interruption
Lost income and extra expenses resulting from a cyber event that disrupts operations.

Incident Response & Notification
Forensic investigations, legal guidance, regulatory notifications, and credit monitoring services.

Regulatory Defense & Fines
Defense costs and certain fines or penalties arising from privacy law violations, where insurable by law.

Third-Party Liability
Claims brought by customers, vendors, or partners affected by a cyber incident.

What It Does Not Cover

Cyber Insurance commonly excludes:

• Prior known incidents or vulnerabilities

• Failure to maintain basic security controls

• Intellectual property value loss

• Physical damage unrelated to cyber events

• Intentional or fraudulent acts

• Acts prohibited by law or sanctions

Coverage depends heavily on security posture and policy terms.

Who Needs Cyber Insurance?

Cyber Insurance is important for any business that:

• Stores customer or employee data

• Accepts electronic payments

• Uses cloud-based systems or software

• Relies on email, remote access, or online platforms

• Works with third-party vendors or service providers

If your business uses technology — cyber risk exists.

How Coverage Is Structured

Cyber policies are typically written on a claims-made basis and structured with:

• First-party and third-party coverage sections

• Shared or separate policy limits

• Sublimits for ransomware and business interruption

• Required security controls and warranties

Underwriting often includes security questionnaires and controls validation.

Real-World Claim Examples

• A ransomware attack locks access to business systems

• Customer data is exposed through a phishing email

• A cyber event halts operations for several days

• A vendor breach impacts your business and clients

Response speed and expert support are critical in these situations.

Why Proper Placement Matters

Cyber coverage varies widely based on:

• Policy definitions

• Security requirements

• Vendor dependencies

• Regulatory exposure

• Incident response capabilities

A poorly structured cyber policy may delay response or limit coverage when it’s needed most.

Our Approach

At Cory Washington & Co., we focus on aligning Cyber Insurance with your actual technology use and risk profile. We help clients understand coverage triggers, response services, and expectations — so there are no surprises during a crisis.

Cyber protection is about preparedness, not panic.

Disclaimer

All insurance descriptions on this website are provided by Cory Washington & Co. LLC strictly for general informational purposes. They are not intended to be, and should not be relied upon as, legal, financial, or insurance advice. The information presented is general in nature and does not guarantee the availability, terms, conditions, or scope of any insurance coverage. Actual coverage is determined solely by the specific policy language issued by the insurer and remains subject to underwriting approval. Nothing on this website creates or implies an agent-client relationship, binds coverage, or alters any existing policy. Cory Washington & Co. LLC expressly disclaims any liability for actions taken, or not taken, based on the content provided here. For advice regarding your particular situation, please consult directly with a licensed insurance professional at Cory Washington & Co. LLC or another qualified insurance professional, and always review your policy documents in full.