5 best cyber insurance in 2021

Cyber protection has become a novel issue thus requires full security.

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Cyber protection has become a novel issue thus requires full security.

For that purpose, cyber insurance is of utmost importance for large enterprises. Large firms like Equifax, Marriott, and SolarWinds have provided security covers to protect the breach of data. However, the small companies have no such protection at all. According to the National Association of Insurance Commissioners (NAIC), the top 20 cyber insurance providers accounted for 92% of the market in the US.

Let us dive into the top 5 cyber insurances that you can opt for your company:


Three flavors of cyber insurance 

AIG is based on a standalone policy and offers three cyber insurance products. The first product it features is the CyberEdge that covers all the financial costs. The second is CyberEdge Plus that covers physical losses if any. And lastly, CyberEdge PC includes casualty policies. 


Big in cyber insurance 

Beazley stands at number 4 among the top firms with cyber insurance. Beazley’s headliner is Beazley Breach Response. The slogan indicates a full-proof policy with customers. Beazley also covers breach response services for up to five million people. For companies in specific industries, Beazley looks like an option. Beazley counts healthcare, higher education, hospitality, financial services, and retail as target industries. 


Partnership with Google Cloud 

Allianz is yet another cyber insurance firm partnered with Google Cloud to provide extra protection. Moreover, it has also paired up with Munich Re-up to advance its features. 

In the world of rising cyber threats, it is important to opt for safety policies. And for that, cyber insurance companies provide full-proof protection to their customers.


 Risk mitigation tools 

AXA is a cyber-insurance company providing various mitigation tools to protect the users and data. The insurance package covers North America with data breach response against crisis management. The insurance policy makes the business trustworthy and reliable reducing the risk of cyber extortion. 


Options for SMBs too 

Travelers offer something new with plans to mitigate the threat of cybercrimes. The company has high-technology to deal with cyber risks. The company bundles pre- and post-breach services provided by Symantec and a hub to evaluate risks. 

Travelers policies fall into these categories: