Short answer
These cyber insurance questions came from architects and engineers this year, in replies to our outreach and in quote threads. Each answer below is short and links to a longer post. Answers depend on your policies, so use them as a starting point and confirm details with your broker.
Cyber insurance questions about coverage
Does my policy cover some portion of cyber attacks?
One client asked whether their policy covered part of a cyber attack. In that case, the business owner’s policy they carried didn’t provide it. That gap is what a standalone cyber policy addresses. Our post on whether professional liability covers a hack explains the difference.
What would be covered with a cyber policy and without one?
Without a cyber policy, many breach response costs, ransomware demands and payment fraud losses may fall on your firm. Policies differ, so check yours. The same post on professional liability and hacks covers what each policy typically addresses.
We already have cyber through our other commercial policy. Is that enough?
It is often an endorsement on a business owner’s or package policy, and it can be narrower than a standalone policy. Check the limit and what it covers. Our post on cyber endorsement vs standalone explains how to tell them apart.
Cyber insurance questions about my other policies
Will not adding cyber change my baseline rates?
Cyber is usually a separate policy with its own premium, so skipping it typically doesn’t change your other premiums. Confirm with your broker for your situation.
Cyber insurance questions about risk
I’m moving all cloud operations to the office server. Does that remove the risk?
Moving off the cloud changes where your data lives. It doesn’t remove email compromise, payment fraud or ransomware risk. A local server can also be a bigger ransomware target if it isn’t backed up offline. Our guide to phishing and IT security covers habits that help either way.
It’s just two of us and we’re good at spotting phishing. Do we still need cyber?
Careful habits lower your odds, but some losses start outside your own inbox. Our post on small firm cyber insurance covers the case for and against.
My email was hacked and fake invitations went out from it. Should I claim?
One client asked this. Our answer was to contact the cyber carrier. Whether the policy responds depends on its terms, so report the incident promptly.