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Cyber Crime is big business and cyber insurance helps keep you in business 


Combine cyber insurance with our strong cyber security for all-round protection


Take a stand and manage your cyber risk, insure and protect your business without breaking the bank.


How can Cyber Insurance mitigate the risk?

Cyber insurance is a hot topic of many debates today. Long believed to be the long-awaited cure for high-impact security risks, especially in light of continually evolving privacy legislation and disclosure obligations.

The truth is not that simple. Cyber insurance is a way that businesses can transfer the loss from information security incidents to an insurer effectively transferring the residual risk. There are no businesses that are immune to cyber breaches, and even those with the best security technology still incur costs. Therefore all companies need to have coverage for this remaining risk of loss.

The key is to manage the majority of the risk with effective cyber security and use cyber insurance to cover the rest. This approach can help the business to manage the risk in the most efficient cost-benefit way. 

What does a Cyber Insurance Policy cover?

Cyber Insurance also called Cyber Liability Insurance can cover many of the costs associated with the liability of a claim or costs associated to a cyber breach. The right level of coverage that your business or organisation needs depends on your level of risk. Cyber breaches are complicated and can happen in many different ways as well as have a large number of impacts so it is important to have expert advice when selecting it and the options such as inclusions and claim caps.


The best place to find out what a Cyber Insurance Policy covers is talking to a cyber insurance broker such as our partner Gallagher. Here is what they say is covered.

  • Impacts from a variety of cyber attacks – such as malware, ransomware, social engineering and human error
  • Forced closure/down time for your business
  • Loss, recovery and decontamination of data
  • Government fines and penalties
  • Incident response and investigation costs

What is not covered in Cyber Insurance?

Similar to above the cover is highly dependent on who underwrites your insurance. The following are common with many insurance policies and something you should speak to your broker about.

Anything above your limit and your sub-limit caps

Cyber insurance buyers, for the most part, understand that their coverage is only as good as the payout limit written into the policy. In other words, you are not getting more coverage than the limit you imposed. But many organisations fail to realise that there are often sub-limits in policies that could hurt the company financially when it comes time to make a claim. An example would be that you have an extensive policy limit of say $5M. However, there is a sub-limit for categories like ransomware payments,  or breach notification costs of $250,000.

Loss Of Intellectual Property Or Trade Secrets

The majority of Cyber insurance policies focus on the risks of losing large customer information databases. There are challenges in properly sizing or underwriting the devaluation of IP or trade secrets. Therefore most policies will not cover IP loss.

Brand Damage

Being hacked, and having customer data sold online can be extremely damaging to your reputation. While there have been studies that link breaches to brand damage, there's not enough concrete evidence or to place a definitive dollar figure on this type of data. The value of the stolen data is usually set by the amount a criminal network is willing to pay. This is a risk that CISOs need to mitigate through effective defences and preparation, not insurance.

How do I combine security with insurance?


Combined cyber insurance and protection services tailored for SMEs. Both Gallagher and Chub offer packages that combine your cyber insurance, with our cyber security service. Combining cyber insurance and cyber attack detection/protection services is a risk management solution that has been used by large financial institutions for decades. One side of the sword protects you against financial loss, and the other notifies you when someone is maliciously within your network. There is a 3rd blade to this defence strategy, and that is the use of a good antivirus/anti-malware platform (like Malwarebytes).

Who do I talk to about Cyber Insurance?

Amplify Intelligence improves your cyber insurance and security platform position by providing enterprise level network intrusion detection, which can mean the difference between a minor inconvenience and a massive data breach.

Cyber insurance for art galleries, Food delivery platforms, Rental Car Services, Art Dealers and Museums and businesses without sophisticated cyber security systems in place are extremely attractive targets for cyber criminals and ransomware syndicates, hackers looking for quick profit as they still store customer data that can be sold on the black market.

We have chosen 2 of the world’s leading companies within the insurance industry, they are both professionals within this space and have decades of experience under their belts.

What are my next steps?

After you purchase a Cyber Safety Solution we recommend that you reach out to brokers with an expertise in Cyber Insurance such as our partners at Gallagher.