Cyber Insurance for Businesses
Protect Your Business from the Financial Impact of a Cyberattack
You don’t have to be a large corporation to be a target.
A phishing email, stolen password, ransomware attack, fraudulent payment request, or data breach can result in lost money, business interruption, recovery expenses, legal costs, and liability to your customers or employees.
Cyber Insurance can help your business respond, recover, and pay for covered losses when something goes wrong.
What Can Cyber Insurance Cover?
- Cyber Fraud & Social Engineering – Certain financial losses caused by fraudulent emails, payment instructions, funds transfers, or other deceptive schemes.
- Cyber Experts – Access to forensic investigators, cybersecurity professionals, attorneys, accountants, and other specialists needed to respond to an incident.
- Data Breaches – Notification costs, credit monitoring, legal assistance, and other expenses following compromised customer or employee information.
- Cyber Fraud & Social Engineering – Certain financial losses caused by fraudulent emails, payment instructions, funds transfers, or other deceptive schemes.
- Cyber Experts – Access to forensic investigators, cybersecurity professionals, attorneys, accountants, and other specialists needed to respond to an incident.
- Business Interruption – Lost income and additional expenses when a covered cyber incident disrupts your operations.
- Data & System Recovery – Costs to restore damaged systems, software, and electronic data.
- Cyber Liability – Legal defense, settlements, and certain regulatory expenses when customers, employees, vendors, or other third parties are affected.
What Is Social Engineering?
Social engineering is a type of cyber fraud that uses deception to trick an employee or business into transferring money, securities, or other assets.
One of today’s biggest cyber risks doesn’t necessarily involve someone “hacking” your computer.
A criminal may impersonate a trusted vendor, customer, employee, executive, or business partner and send what appears to be a legitimate request to transfer money or change payment instructions.
Your employee follows the instructions—and the money goes directly to the criminal.
Social Engineering Fraud Coverage may help protect your business from qualifying financial losses caused by these deceptive payment or transfer requests.
Cyber Insurance Can Protect More Than Your Data
A cyberattack can create expenses in several different areas at once.
Your business may need help:
- Investigating and containing the attack
- Restoring systems and recovering data
- Notifying affected customers or employees
- Replacing lost business income
- Responding to ransomware or extortion
- Recovering from certain cyber fraud
- Hiring attorneys, forensic experts, or accountants
- Defending against lawsuits or regulatory actions
- Managing damage to your company’s reputation
Cyber Insurance is about much more than simply protecting your computer system.
What Isn’t Covered?
Cyber policies vary significantly, and exclusions matter.
For example, some policies may exclude certain losses involving widespread failures of electricity, internet, telecommunications, water, or other critical infrastructure.
Coverage for social engineering, funds transfer fraud, ransomware, business interruption, and other cyber risks can also vary by carrier and policy.
That’s why it’s important to understand not only whether you have Cyber Insurance—but what your particular policy actually covers.
Is Your Business Properly Protected?
Every business has a different cyber exposure. HTA Insurance Services can help you identify your risks, understand the coverage available, and compare Cyber Insurance options to determine what makes sense for your business.
You don’t need to become a cybersecurity expert.
You just need to understand your risk—and have a plan if something goes wrong.