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We want to help businesses quantify their cyber risk so that they feel confident in their cyber insurance coverage. So, we created a comprehensive and anonymous Cyber Liability Calculator for businesses to be able to estimate the financial impact from a cyber incident – a key first step in obtaining the right insurance policy for your risk profile.
Estimated results include:
- Total potential liability
- Ransom demand and payout
- Remediation cost per industry statistics
- Email fraud cost
- Legal costs associated with 3rd-Party Liability
- Total number of Personally Identifiable Records (PII)
- 1st-Party Liability and 3rd-Party Liability
- And more!
Cyber Liability Calculator FAQ’s:
The calculations in this calculator use a variety of sources, including:
- MNP
- Prolink
- Government of Canada
- Statista
- State of Ransomware 2024
- Sophos
- Ready Ratios
- 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.
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.
Cyber Liability is the responsibility of the damage from cyber threats or breaches involving computer systems and data. That can include sensitive customer information, such as credit card numbers, Social Security numbers, account numbers and driver’s license numbers.
Cyber liability insurance covers the damage that your business suffers because of a cyber security breach. It is also known as cybersecurity insurance or cyber risk insurance.
When working with clients to submit applications for Cyber Insurance, we often hear that they don’t understand the terminology on the application form. For anyone who has found themselves in this situation, read our Cyber Insurance Terms Debunked blog.
Related: How Cyber Insurance Works
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!
Gain confidence in your cyber insurance coverage
Knowing your total liability is a key first step for cyber 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.
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