Top Cyber Insurance Companies for Cyber Insurance Coverage

Cyber Insurance Coverage

Cyber insurance represents the pinnacle of strong data security practices.

This is due to the well-known fact that no digital security tools, posture, or policy are invulnerable.

It is because no matter how strong the defense, all it takes is a stronger attack to compromise your sensitive information.

Just as no car on the road is safe—and as a result, we must insure our vehicles—no data stored online is safe.

But this is just half of the rationale for investing in cyber insurance cybersecurity.

The other reason is the fact that companies that engage in commerce online are, at least for short periods, in possession of the payment data of their customers.

Should your patrons suffer a successful cyber attack while engaging with your brand online, two things could happen:

  1. You could be sued, and
  2. You could run afoul of regulatory bodies and incur hefty fines.

Even worse, both could happen.

So far, we have simplified the issue for the sake of brevity.

But the fact is that only a strong cyber insurance policy can protect you against bad actors online with any degree of certainty.

Because this is well understood, several outstanding insurance carriers offer cyber insurance.

Here, we've listed the top 5 cyber insurance companies. 

In the opinion of our in-house team of cyber insurance experts, these are the cream of the crop in this field.

However, cybersecurity insurance is a complex subject, and therefore each of our top picks has their specialties, their own virtues, and their own shortcomings.

This means that while one might be best overall, another might still be better suited for your online security needs. 

What follows is intended to help you pick the best cyber insurance companies for your data security insurance needs. 


Factors to Consider When Selecting a Cyber Insurance Company 

Because there is so much diversity between even the best cyber insurance companies, choosing the right one for you 
must start with a close examination of your organization's unique online security requirements.


Tips For Choosing The Right Cyber Insurance Carrier

The first step to choosing the right carrier and policy is to know your vulnerabilities and the potential costs of having those vulnerabilities successfully exploited.

From there, it's good to seek the advice of cybersecurity and cybersecurity insurance experts. 

The reason you should consult both types of experts is that there are legal and technological issues to consider, and both are highly complex.

A cybersecurity expert can tell you where you need financial coverage.

An expert in insurance itself can explain how compliance failures and civil suits could cripple your organization financially and legally. 

With the advice they provide in mind, there are at least four important factors to consider:

  • Your company's risk tolerance: To begin, imagine the worst-case scenario in which your company or your customers suffer a cyber attack. The scenario should be possible, likely, and serious enough that you would want insurance coverage for it. Could your company be disabled by a cyber attack? Is your customer data vulnerable? How much do you stand to lose?
  • Policy costs and deductibles: Naturally, one of the most important things to consider is the cost of 
    cybersecurity insurance. If the cost of an insurance package is not worth securing your potential losses, then it's not for you.
  • What a policy includes: Make sure you read and understand all of the terms and conditions of every policy you are considering. In the cybersecurity insurance industry, there are a lot of different policy types and coverage levels, each with its complexities. You will also need to understand how local and federal regulations in your area/industry will match up with a given policy.
  • The data security needs of your business: Don't conflate your risk tolerance with your data security needs. Your security needs are your vulnerabilities. If you have delivery drivers carrying company expense cards, for example, that is a vulnerability that might need to be covered. If you have executive liaisons managing the company's Facebook account, that is a cultural-type vulnerability. If you have Amazon stores, that is yet another vulnerability. 


How To Evaluate Cyber Insurance Companies 

Now that you have looked at your cybersecurity needs, let's look at how to evaluate cyber insurance companies.



Cybersecurity insurance may be the new hot thing in data security best practices, but it is not a wholly new idea.

Many inexperienced insurance providers are jumping on the bandwagon who don't have much experience.

You also want to work with a provider that has experience insuring companies in your industry. 


Coverage Options 

As mentioned, there are several different types of cybersecurity insurance.

Some providers offer certain policies and some specialize in others.

This is why you need to work with a company that understands your needs. 



You want to work with a reputable insurer, one with a track record of supporting businesses like yours and not doing whatever it takes to deny claims. 


Claims Process 

This brings us to the claims process.

These should be straightforward with no unreasonable hoops to jump through.

This is an area where checking for reviews can be a great help. 


Support Resources 

You want to work with a carrier that offers plenty of support.

Attack prevention is infinitely superior to damage mitigation.

Your insurance provider has an interest in helping you avoid having to submit a claim.

Therefore, a good one will help you to do just that with consulting and IT support. 



Finally, the cost of insurance should suit your budget, and be commensurate with your cybersecurity needs and vulnerabilities. 


Top Cyber Insurance Companies 

The good news is that we have done some of the hard work for you.

The following cyber insurance companies represent the top-quality level of service, support, resources, and reputation in the industry.

All you need to do is choose the one that meets your budget and data vulnerabilities best. 


Aon Cyber Insurance

As a cybersecurity and cyber insurance company, Aon takes a no-nonsense approach to serving its customers.

They start with robust guidance on the ways to protect an organization against risk and volatility in digital spaces.

As mentioned above, cyber insurance companies have an interest in supporting their customers this way.

By showing that they understand this right off the bat, Aon demonstrates that they understand the issues surrounding cyber insurance very well. 


  • Up-front best practices guidance 
  • Up-to-date news on cyber risks 
  • Robust guidance and support 


  • Critical cybersecurity news is mixed in with marketing materials 
  • Aon may disqualify policyholders for failing to adhere to complex best practices rhetoric 


Zurich Cyber Insurance 

As the North American wing of a Swiss-based company, Zurich launched its cyber insurance offerings for middle market companies just this year, in 2023.

This means they may lack experience in this area.

However, they have been offering cybersecurity insurance in other areas since 1998, making them an undeniable leader in this service sector.

They cover up to $25 million in cyber attack-related damages and protect their clients in a number of other ways, as well. 


  • High coverage limits 
  • Covers reputational and business interruption losses 
  • Covers regulatory fines and penalties 
  • Robust post-attack support 


  • Zurich takes a responsive approach to regulatory issues, offering support with possibly unimpressive preventative efforts.
  • You may need to look elsewhere for guidance on compliance issues. 


CNA Cyber Insurance 

Founded in 1897, CNA Insurance specializes in business coverage and is among the most well-established insurance providers.

As such, they are likely to offer some of the finest and most robust regulatory compliance guidance available.

Their cyber coverage offerings are also among the most comprehensive that you are likely to find, making them a good choice if their policies suit your budget. 


  • Wide range of cyber coverage types including network failure, wrongful data collection, reputational damage, and more
  • Offers a proactive cyber risk services program 
  • Round-the-clock claims reporting 


  • Premiums may be high compared to the alternatives 
  • Offers few discounts 
  • Outdated website 
  • Non-BBB accredited company 


Hiscox Cyber Insurance 

Founded in 1901, Hiscox is the U.S. branch of a conglomerate with offices in 13 countries and over 2,000 employees.

They have been given an A rating by A.M. Best and have earned a total 4.8-star rating from their many online customer reviews.

They claim to be the nation's top small business insurer, and they have the reputation to back that claim up. 


  • Offers claims reporting by mail, telephone, and online 
  • Strong financial stability 
  • Protects against "computer-related" losses 


  • They are well-rated by the BBB but are not an accredited business 
  • It can be tough to find a local agent online 
  • Does not serve large-scale businesses 


Chubb Cyber Insurance 

Chubb Insurance is the oldest and most well-established insurance carrier on our list.

They have among the best customer service availability you are likely to find, which is a must with cyber insurance.

They offer a huge range of services, including cybersecurity insurance, though their offerings in this insurance category may be lacking. 


  • Strong financial stability 
  • Round-the-clock claims with responses within 6 hours for Masterpiece level policyholders 


  • May lack experience in cyber insurance 
  • Certain business activities are not covered 
  • Does not cover losses over $100,000 



It would be tough to go wrong with your pick of these top-tier cyber insurance companies, as long as you do your homework to find the right match for your business.

Be sure to examine their policy offerings, services, and cost profile carefully to find the best match.

For more advice on picking the best cybersecurity insurance carrier for your needs, get in touch today. 



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