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sublimit insurance

How the Right Sublimits Make Your Cyber Insurance Even Better

Since cyber-attacks and breaches can come from so many different angles, it’s especially important to choose cyber insurance that offers the right type of coverage and poses limitations that work for your company.

What You Need to Consider Before Choosing Sublimits

Each insurance policy’s coverage amounts are dictated by the policy’s written limits and sublimits. This means that a sublimit insurance will put a cap on the maximum amount of money that can cover an individual risk. To choose the right limits and sublimits for your cyber insurance policy there are a few things to consider.

How much cyber exposure does your business have?

Which exposures need the most or least amount of coverage?

How much would it cost to cover each exposure if it would result in a loss?

In many cases, cyber attackers will choose as many different angles as possible to exploit the data they can retrieve. Keep this in mind when you are setting limits for your insurance.

Figuring in Exclusions for Cyber Insurance Policies

It can be a crucial part of cyber security to record all instances of updates and actions taken towards data protection for your insurance to cover losses. Types of exclusions that apply to cyber sublimit insurance include the following.

  • Ongoing breaches (prior to the date specified on the insurance policy)
  • Outdated Software (computers, software or servers not kept up to date)
  • Unencrypted Data (all data that has not been encrypted or password sealed)
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