Smart Cyber Insurance®: Primary and Excess

Our Smart Cyber Insurance® policy covers losses resulting from a security breach or cyber crime event, including: first-party losses, or losses suffered by your company (for example, income loss or digital asset loss) and third-party losses (amounts that your company is legally obligated to pay to others).

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Corvus considers several factors when calculating premiums, including an organization’s score on our noninvasive IT security scan, the organization’s revenue and nature of business, the quality of the organization’s cybersecurity controls, and the limit requested.

Premiums vary depending on the type and size of the business insured. Annual premiums start at around $2,000.

Common cyber incidents that trigger claims include:

• Ransomware attacks: Hackers lock up files or devices and demand a ransom payment in exchange for release

• Data breaches: Confidential data is stolen or otherwise exposed

• Wire fraud: An employee is tricked into sending money to a scammer

• System failure: Shutdowns due to system outages that may or may not be malicious in nature

Your cyber insurance provider is an important partner in mitigating security threats. Every Corvus policy includes access to Corvus Signal™, the only cyber risk mitigation solution proven to reduce risk. Policyholders engaged with Corvus Signal™ have experienced up to a 20% reduction in the frequency and cost of cyber breaches. With Corvus Signal™, policyholders gain access to unlimited consultations with cyber experts, real-time intelligence on emerging threats, and easy-to-use tools to manage security risks.

Contact your commercial insurance broker and ask them about cyber liability coverage. Corvus's offerings are available via select appointed agencies around the country. Our expert cyber underwriters work hand-in-hand with brokers to provide fast, accurate, and fully customized cyber insurance quotes.