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Top 10 Cyber Insurance Companies in 2024

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Cyber Magazine considers some of the leading cyber insurance companies that help protect businesses’ valuable data and provide digital reassurance
Cyber Magazine considers some of the leading companies in cyber insurance that help businesses to protect their digital assets and provide peace of mind
Cyber insurance policies can help to cover the financial losses that result from cyber events and incidents. In particular, cyber-risk coverage can help with the costs associated with remediation, including payment for legal assistance, investigators, crisis communicators and customer credits or refunds.

In a time where scams and phishing make up 82% of online threats for small businesses in the UK alone in 2024, many still lack the relevant tools and infrastructure to protect themselves against threats.

Cyber Magazine considers some of the leading cyber insurance companies that help protect businesses’ valuable data and provide digital reassurance.

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10: The Hartford


For more than 211 years, The Hartford has provided people and businesses with the support and protection they need to pursue unique ambitions, seize opportunity and prevail through unexpected challenges. Its commitment to cyber insurance aims to offer broad coverage to help protect businesses from technology-related risks.

The company offers two different cyber insurance policies: cyber liability insurance and data breach insurance. Whilst data breach insurance helps smaller businesses respond to breaches, liability insurance is typically meant for larger businesses and offers more coverage to help prepare for, respond to and recover from cyberattacks.

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9: Beazley

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Beazley is an industry leading solution for data privacy and security risk management, providing a range of services designed to help organisations respond to an actual or suspected data breach incident effectively, efficiently and in compliance with the law.

Its services include a computer forensics “Information Security Incident Response” guide to empower IT staff with knowledge of crucial forensic procedures, as well as assistance at every stage of investigation and response into a data breach incident from the company’s in-house team of data privacy attorneys and technical experts.

8: Zurich


Zurich is a leading multi-line insurer serving people and businesses in more than 200 countries and territories for more than 150 years. In particular, the company’s global network means that it can offer security and privacy insurance solutions in 21 different countries, with cross-territory programmes to avoid language, cultural and business barriers and ensuring that customers are in control of their overseas coverage.

Its services cover privacy breaches, security and privacy breaches, digital asset replacement expenses, cyberterrorism and covering damages as a result of wrongful acts of electronic publishing, to name a few.

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7: AXIS Capital Holdings


AXIS is an international specialty insurer and reinsurer with a global platform and expertise across diverse lines of business and products. Concerning cyber insurance, the company offers brokers and clients deep expertise in managing data security, guidance on preparing for an incident and guidance on preparing for a cyber incident response.

It offers a broad range of cyber insurance solutions across numerous industries, including entertainment, healthcare, manufacturing and transportation, to name a few. AXIS works to leverage its internal expertise and partnerships with leading market innovators to help its clients understand the cyber threat landscape and mitigate against risks.

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6: Travelers


Through its partnership with HCL Technologies, Travelers provides pre-breach risk management services to help clients better understand cyber risk and minimise their exposure to a potential cyber event. Included in its services is cyber resilience readiness assessments and professional consultations, awareness training and risk management expertise to help defend against cybersecurity threats.

Travelers offers class-leading support to sell cyber insurance more effectively to SME clients, having made enhancements to its products to further help businesses overcome cyber challenges. The company has also recently expanded its offering so now non-policy holders can access its pre-breach services too.

5: AXA XL


AXA XL aims to help before hackers threaten businesses. In addition to incident response services, AXA XL policyholders also have access to proactive cybersecurity risk mitigation services and personalised risk consulting. The company provides a comprehensive global vision of its customers’ risks based on an intimate understanding of business priorities and goals.

Services also include flexible coverage unique to the customer, proactive risk management to identify and mitigate cyber threats and customer-focused claims that can be reported 24/7.

​4: Hiscox

Hiscox holds a team of experts across the insurance industry providing up-to-date advice and industry news for its customers. The company also partners with leading risk management services to ensure its clients are supported and guided well, whilst also getting good insurance coverage.

Additionally, the company publishes an annual cyber readiness report which most recently revealed in 2022 that whilst businesses in the US are increasing their spending and activity to reduce their vulnerability to cyber events, more work needs to be done.

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3: Munich Re


Munich Re has invested in multidisciplinary cyber teams with in-depth expertise, and strong partnerships, to offer a full spectrum of cyber insurance solutions for businesses, individuals and primary insurers. The company works to combine cybersecurity standards with appropriate premium and retention levels, as well as clear wording.

The company strategy is based on really understanding cyber risks, assessing them adequately and making them insurable. It does this in close collaboration between experts from insurance and reinsurance and with external partners – all working together to help protect businesses.

2: Chubb

Recognised as one of the world’s largest publicly traded property and casualty insurance firms, Chubb’s international cyber teams have more than 20 years of experience and claims handling. It provides insurance, prevention and risk management advice to help businesses minimise losses, also priding itself on offering tailored solutions to suit specific needs.

The company’s range of policies offer end-to-end solutions backed by an AA+ rating. Services offered include incident response, business interruption, data and system recovery and cyber extortion. In September 2023, Chubb announced a partnership with SentinelOne to enhance cyber risk management for US businesses.

1: AIG


AIG is a global insurance company that offers cyber insurance primarily for financial institutions that face above-average risks because of their assets. It first launched one of the industry’s first cyber security insurance protection programmes in 1999 and has been helping clients navigate this rapidly growing area of risk ever since, via detailed scoring, analytics and insights gathered from 20+ years of experience.

The company’s cyber insurance policies include coverage for first-party losses, such as business interruption and data restoration costs, as well as third-party liabilities, including fines and legal expenses.

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