Gain confidence in your cyber insurance coverage
Knowing your total cyber liability is a key first step for insurance. In conducting an insurance review for a client, we found that their policy limits were less than 10% of the potential costs involved in a breach. Your business needs to ensure that coverage and premiums correctly match your risk profile.
Cyber Liability Calculator FAQ’s:
How do we calculate cyber liability?
The calculations in this calculator use a variety of sources, including:
- MNP
- Prolink
- Statista
- State of Ransomware 2024
- Sophos
- Industry statistics and more.
When a range has been provided, we set the calculation to the lowest value of the range in order to be conservative.
Use this calculator as a way to help your business estimate loss. Results should not be taken as actual calculated loss.
Why did we create this free calculator?
In conducting a cyber insurance review for a client, we identified that their policy limits were less than 10% of the potential costs involved in a breach. The client’s insurance agent had sold them a policy available without knowing how to quantify cyber risk.
So, we created this calculator to help businesses estimate the potential financial impact from a cyber incident.
What is Cyber Liability?
Cyber liability refers to the legal and financial responsibilities businesses face in the event of a cyber attack, data breach, or other security incidents. It encompasses the financial risks associated with protecting sensitive data, maintaining the security of digital systems, and ensuring compliance with regulations.
What is Cyber Liability Insurance?
Cyber liability insurance helps organizations cover the costs related to information security incidents, such as legal fees, data recovery, business interruption, and any resulting damages. Essentially, it provides financial protection and support in the aftermath of cyber-related incident or breach.
Related: How Cyber Insurance Works
Reach out today for help with crunching the numbers!
Chat with our team and include what you want to focus on from your Cyber Liability Calculator results – and don’t forget to send the results to your email (bottom of the results page) to have handy!
