The question of how much cyber insurance will cost your company (or you, for personal cyber insurance) is complex, varying on size, industry and — increasingly — your cyber security risks, processes and controls.
Cyber Insurance News will be updated these estimates.
The cost of a cyber insurance policy can vary significantly depending on a number of factors, including the size and type of business, the industry in which the business operates, and the level of coverage desired. In general, a million dollars of cyber insurance coverage is likely to cost several thousand dollars per year. It is important to shop around and compare quotes from different insurance providers to find the most competitive rate. It is also a good idea to work with a broker or an insurance professional who has expertise in the field of cyber insurance to help you determine the appropriate level of coverage for your business.
By one estimate, the average cost of cyber insurance in the U.S. in 2021 was $1,589 per year or $132 per month.