Should your business suffer a system failure in a cyber attack, cyber insurance coverage could help to cover the cost to replace or restore data that was stolen or damaged.
All U.S. territories require companies to notify customers whose personal information was exposed in a security breach.
If you have to offer free credit monitoring to affected customers, cyber insurance coverage can help with the expenses.
Cyber insurance coverage could help cover lost income in the event an online attack shuts down your business.
If a hacker runs ransomware through your business’s network servers, cyber insurance coverage could help cover the cost of an extortion payment.
You may need PR experts to help repair your public image after a cyber attack.
If a cybercriminal fraudulently gets your business’s financial information and you lose money, for example in a phishing scam, cyber insurance could help cover the costs of the theft loss.
Cyber insurance coverage can protect against third-party claims of defamation, copyright infringement and invasion of privacy.
If your business is sued after a privacy breach, cyber insurance coverage can provide a legal defense and help with settlements or damages.
You could face penalties from regulatory agencies for failing to meet data security standards.
In short, all companies that use technology in their business need cyber insurance coverage, but it’s especially important for businesses that handle customer names, mailing addresses, credit card numbers or other personally identifiable information (PII). The following are just a few examples of the types of businesses that should consider cyber insurance coverage:
While cyber insurance covers your business from the financial and legal fallout associated with cybercrimes, you may want to consider a few other essential types of insurance to prepare for everything the workday could throw your way.
General liability insurance protects your business against claims of third-party bodily injury, property damage, and personal and advertising injury.
Professional liability insurance (also called errors and omissions or E&O insurance) protects against claims that you’ve failed to provide your services properly, causing monetary or reputational damage.
A business owners policy or “BOP” combines coverages most small businesses need in one easy package with two main areas: commercial property insurance and general liability insurance.
Business Equipment Protection (also known as inland marine insurance) covers tools and equipment that you own, rent or borrow and regularly take with you on the job.
Workers’ compensation covers the costs related to your crew’s work-related injuries and illnesses. Your team is your most valuable asset, so it’s crucial that you get your business protected.
Is cyber insurance required by law?
Cyber insurance coverage isn’t required by law, but your clients may require you to have a cyber insurance policy before working with you.
Where is Thimble’s cyber insurance available?
Cyber insurance is currently available in select states, but stay tuned—we’re working on launching cyber insurance in your state soon! Check out the availability map to see if it’s live in your state.
What’s the difference between cyber insurance and professional liability insurance?
Professional liability insurance provides coverage if your advice or professional services result in a financial loss to a third party. That means professional liability insurance wouldn’t cover any of the associated costs to help your business rebuild and respond after a cyber attack.
Can I get my cyber insurance and general liability insurance under one policy?
Yes! You can purchase an annual policy through Thimble and choose both general liability and cyber coverage in one simple, affordable package to give you an in-person and online safety net.
How do I show proof I have cyber coverage?
After you purchase a policy, you’ll receive an email with your policy details and any necessary Certificates of Insurance (COI) you might require. Your COI, also referred to as an ACORD 25, Certificate of Liability Insurance, is a standard document that proves your business is insured. A COI includes details like the types of liability coverage (general liability, professional liability, etc.) you have in force, the applicable policy limits, and the duration of your policy. This is typically the document you need to show your clients to prove that you’re ready to get to work. With Thimble, you’ve got instant access to your COI after purchase and can make and send unlimited copies all with a click of a button.
How do I file a cyber insurance claim?
If you need to file a claim, please follow the contact instructions listed on your Cyber Declarations. Read more on the claims process.
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This is fast and easy and works great for me! I am a one man freelance landscaper and this gives me the ability to purchase insurance directly from my phone anytime and anywhere I need it.
Super easy to use! Thought of everything
This app is beautiful and super easy to use! It's super easy to get insurance for the weddings I shoot where the venues require insurance. I can just buy it on the app with 3 clicks and I'm done.
Awesome Product
I love this idea ????!! I needed to have proof of liability to present my proposal; got it on the spot. I didn't win the bid but I didn't get stuck with costly insurance, either!!
So Easy!!! I LOVE IT
It was so easy, quick, and simple. The PDF package I received contained everything I needed. This was the best experience I've ever had obtaining insurance...thank you!!!
Great rate!
I was very impressed with your monthly rate on general liability coverage! Much less than 1/12 of everyone else's annual rate.
I love the convenience
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