A single compromised email thread can redirect a six-figure draw request into a fraudulent account before anyone on the jobsite notices. For Florida contractors, where project values run high and payment chains involve multiple parties, cyber risk is not theoretical: it is an operational hazard as real as a hurricane. Cyber insurance tailored to construction firms in Florida addresses exposures that general liability and builder's risk policies simply were not designed to cover, from wire fraud targeting draw schedules to data breaches exposing proprietary blueprints and smart building system intrusions.
Total reported cybercrime losses surpassed $20 billion in 2025, a 26 percent increase from the prior year, with business email compromise and investment fraud driving the bulk of those figures. Construction companies are increasingly targeted because their payment workflows involve large sums, tight deadlines, and multiple stakeholders who may not verify transfer instructions independently. Florida's regulatory environment adds another layer: the state's breach notification statute imposes specific timelines, and its Division of Investigative and Forensic Services actively pursues fraud complaints tied to financial crimes.
This guide covers the specific cyber exposures facing Florida construction firms, how cyber coverage compares to general liability, what policy limits and extensions look like, the underwriting controls carriers expect, and the practical steps you should take before binding a policy. Whether you are a general contractor running a $50 million pipeline or a specialty sub with 30 employees, the risk profile is the same: your payment chain and your project data are targets.
Cyber Risks in the Florida Construction Landscape
Florida's construction sector operates under conditions that amplify cyber risk. Projects involve general contractors, subcontractors, architects, engineers, lenders, and owners exchanging sensitive financial and design data across email, cloud platforms, and project management software. Each handoff point is a potential entry for a threat actor. The state's high volume of residential and commercial development means more transactions, more parties, and more opportunities for interception.
Seasonal workforce fluctuations compound the problem. Temporary employees and new hires may not receive the same cybersecurity training as permanent staff, and their access credentials are often provisioned quickly to keep projects on schedule. That speed creates gaps.
Draw Request and Wire Fraud Vulnerabilities
Draw request fraud is the most financially devastating cyber event in construction. A threat actor gains access to an email account belonging to a project manager, bookkeeper, or subcontractor and monitors the thread until a payment milestone approaches. They then send altered wiring instructions from a spoofed or compromised address, redirecting funds to an account they control.
The amounts involved are substantial. A single draw on a mid-size Florida commercial project can exceed $500,000. Once the wire clears, recovery rates are low: funds are typically moved offshore within hours. Cybercrime losses tied to business email compromise accounted for roughly 85 percent of total financial damage reported to the FBI in 2025, and construction firms are disproportionately represented in those claims.
A cyber policy with a social engineering or funds transfer fraud endorsement can respond to these losses, but the coverage grant varies significantly by form. Sublimits, waiting periods, and verification requirements all affect whether a claim pays.
Protecting Project Data and Blueprints
Construction firms store BIM models, architectural drawings, engineering specifications, bid documents, and client financial records. A breach exposing this data triggers obligations under Florida Statute 501.171, which requires notification to affected individuals within 30 days and to the Department of Legal Affairs if more than 500 residents are involved.
The cost of a data breach extends beyond notification. Forensic investigation, legal counsel, credit monitoring, and regulatory defense expenses accumulate quickly. IBM's annual research has consistently shown that the average cost of a data breach exceeds $4.8 million across industries, and construction firms face additional exposure when proprietary designs or competitive bid information is leaked.
Building System Exposure and Smart Tech Risks
Modern Florida construction projects increasingly incorporate IoT devices, smart HVAC controls, automated access systems, and networked building management platforms. These systems create attack surfaces that did not exist a decade ago. A compromised building automation system can cause physical damage, disrupt occupancy, or serve as a pivot point into the broader corporate network.
Cyber policies vary in how they treat bodily injury or property damage arising from a network security event. Some forms explicitly exclude it; others offer limited coverage through endorsement. You need to understand where your policy's coverage grant stops before a claim tests it.
By: Caden Braly
Founder of Bloc Cyber Insurance
INDEX
Bloc Cyber and Its Licensed Producers Are Authorized to Place Cyber Coverage in All 50 U.S. States and The District of Columbia.
Cyber liability insurance covers the financial losses your business faces after a cyberattack or data breach. This page explains what the coverage includes, who needs it, what it costs, and how Bloc Cyber helps you get protected fast.
We start with a twenty-minute call to walk through your contracts, your draw process, your tech stack, and the last twelve months of attempted fraud. From there we go to market with ten-plus carriers, benchmark terms side-by-side, and present the options in plain language with recommended limits and retentions. Most intakes get indicative terms within one business day.
Comparing General Liability vs. Cyber Insurance
General liability and commercial property policies were written for the physical world. They respond to bodily injury, property damage, and advertising injury. They do not respond to wire fraud, ransomware, data breach notification costs, or regulatory defense expenses arising from a cyber event.
A common misconception among contractors is that their GL policy's "personal and advertising injury" coverage extends to data breaches. It does not. Most GL forms contain explicit cyber exclusions, and even where ambiguity exists, carriers routinely deny claims involving electronic data or network security failures. Builder's risk policies similarly exclude losses caused by cyberattacks on building systems, unless a specific cyber endorsement has been added.
Coverage Comparison Table
| Exposure | General Liability | Cyber Liability |
|---|---|---|
| Wire fraud / draw request diversion | Not covered | Covered (with endorsement) |
| Ransomware / extortion | Not covered | Covered (first-party) |
| Data breach notification costs | Not covered | Covered (first-party) |
| Regulatory defense and fines | Not covered | Covered (third-party) |
| Business interruption from cyber event | Not covered | Covered (with waiting period) |
| Bodily injury from hacked building system | May respond | Varies by form |
| Third-party lawsuit for data exposure | Excluded | Covered (third-party) |
The table makes the gap visible. If your firm handles wire transfers, stores client data, or installs networked building systems, a standalone cyber policy is not optional: it fills exposures your other coverage lines were never designed to address.
We start with a twenty-minute call to walk through your contracts, your draw process, your tech stack, and the last twelve months of attempted fraud. From there we go to market with ten-plus carriers, benchmark terms side-by-side, and present the options in plain language with recommended limits and retentions. Most intakes get indicative terms within one business day.
| Coverage Element | General Cyber Policy | Cryptojacking Endorsement |
|---|---|---|
| Unauthorized cloud compute charges | May be excluded or subject to low sublimit | Explicitly covered, often with higher sublimit |
| Incident response and forensics | Typically included | Included |
| Business interruption from degraded performance | Covered if waiting period is met | Covered, sometimes with shorter waiting period |
| Container/Kubernetes remediation | Covered under system restoration if triggered | Explicitly addresses cloud-native environments |
| Cloud bill reimbursement | Varies widely by form | Specifically designed for this loss type |
| Retention (deductible) | Standard retention applies | May have separate, lower retention |
Some regulatory proceedings involve parallel tracks: the regulator's formal action and an internal investigation your company runs simultaneously. Shadow defense counsel represents your company's interests during the regulatory process without formally appearing before the agency. Monitoring counsel may be appointed under a consent order to oversee your compliance.
The costs for these roles can be substantial. Certain policy forms cover shadow counsel fees as part of the defense cost grant, while others exclude them entirely. Court-appointed monitors in state enforcement actions have generated significant fees that strain organizational budgets, and whether your policy responds to those costs depends on how the form defines "defense costs" and "regulatory proceeding."
Shadow Defense and Monitoring Counsel Roles
Table: General Liability vs. Cyber Liability Coverage
PWA-specific insurance covers the risk that the IRS determines the project failed to meet prevailing wage or apprenticeship standards, resulting in loss of the bonus credit multiplier. Some policies also cover the penalty amounts associated with correction payments if the cure mechanism is invoked.
This coverage is particularly valuable because PWA compliance involves thousands of individual payroll records across multiple subcontractors. Even well-managed projects can have gaps. A single subcontractor paying below the prevailing rate for a misclassified trade can jeopardize the entire bonus credit. Insurance does not excuse sloppy compliance, but it does protect against the financial consequences of honest errors.
PWA-specific insurance covers the risk that the IRS determines the project failed to meet prevailing wage or apprenticeship standards, resulting in loss of the bonus credit multiplier. Some policies also cover the penalty amounts associated with correction payments if the cure mechanism is invoked.
This coverage is particularly valuable because PWA compliance involves thousands of individual payroll records across multiple subcontractors. Even well-managed projects can have gaps. A single subcontractor paying below the prevailing rate for a misclassified trade can jeopardize the entire bonus credit. Insurance does not excuse sloppy compliance, but it does protect against the financial consequences of honest errors.
Audit Protection and PWA Penalty Insurance
| Coverage Element | Standard Cyber Policy | With PCI Comprehensive Rider |
|---|---|---|
| Forensic investigation (PFI) | Covered, subject to sublimit | Covered at full policy limit |
| Card brand assessments | Typically excluded | Covered, subject to retention |
| Card reissuance costs | Excluded | Covered |
| Regulatory fines (state-level) | Covered where insurable by law | Covered where insurable by law |
| PCI DSS non-compliance penalties | Excluded | May be covered with conditions |
| Notification and credit monitoring | Covered | Covered |
| Business interruption | Covered, with waiting period | Covered, with waiting period |
| Third-party liability / lawsuits | Covered | Covered |
| Scenario | General Liability | Cyber Liability |
|---|---|---|
| Customer slips in your office | Covered | Not covered |
| Hacker steals 10,000 customer records | Not covered | Covered under breach response and privacy liability |
| Ransomware shuts down operations for 5 days | Not covered | Covered under business interruption (subject to waiting period) |
| Employee accidentally emails PHI to wrong recipient | Not covered | Covered under privacy liability |
| BIPA class action for biometric timekeeping | Likely excluded | May be covered if policy does not exclude biometric claims |
| Virus from your network infects a client | Not covered | Covered under network security liability |
| Regulatory investigation by IL Attorney General | Not covered | Covered under regulatory proceeding coverage |
First-party coverage pays for your own costs: forensics, notification, credit monitoring, business interruption, and data restoration. Third-party coverage responds to claims made against you by affected individuals, regulators, or business partners. Many business owners assume a single policy limit covers everything. It does not. Most forms split the limit into first-party and third-party components, and some impose sublimits within each category.
| Coverage Element | First-Party | Third-Party |
|---|---|---|
| Forensic investigation | Covered under breach response | Not applicable |
| Breach coach / legal fees | Covered under breach response | Regulatory defense may fall here |
| Consumer notification | Covered under breach response | Not applicable |
| Credit monitoring | Covered under breach response | Not applicable |
| Regulatory fines and penalties | Not applicable | May be covered where insurable by law |
| Liability to affected individuals | Not applicable | Covered under privacy liability |
| PCI-DSS assessments | Sometimes first-party | Sometimes third-party |
The distinction matters because a $1 million aggregate that must cover both forensics and a regulatory defense action can be exhausted before notification even begins. When Bloc Cyber reviews a policy form, one of the first things examined is whether the breach response sublimit is adequate relative to the company's record volume and the number of jurisdictions where it operates.
Standard Coverage Limits and Policy Extensions
Most Florida construction firms purchasing cyber coverage for the first time select limits between $1 million and $5 million, depending on annual revenue, project size, and the volume of wire transfers processed. Firms with revenues above $25 million or those handling government contracts often need higher limits.
Retentions (the cyber equivalent of a deductible) typically range from $2,500 to $25,000 for small and mid-market contractors. Higher retentions reduce premium but increase out-of-pocket exposure on smaller claims. The retention structure matters: some forms apply a single retention per incident, while others stack retentions across insuring agreements triggered by the same event.
First-Party vs. Third-Party Protections
First-party coverage pays for your own losses: forensic investigation, ransomware payments (where legal), business interruption, data restoration, and breach notification expenses. Third-party coverage responds when someone else sues you or a regulator opens an investigation: network security liability, privacy liability, regulatory defense, and media liability.
Construction firms need both. A draw request fraud loss is a first-party event. A subcontractor suing you because your compromised email exposed their banking details is a third-party claim. Bloc Cyber's approach to placement reviews each insuring agreement individually, so you understand which triggers apply and where sublimits may restrict the payout before you bind.
Social Engineering and Funds Transfer Fraud Riders
Standard cyber forms often sublimit social engineering losses at $100,000 to $250,000, well below the value of a single misdirected draw payment. Construction-specific endorsements from certain markets offer enhanced sublimits for funds transfer fraud, sometimes up to the full policy limit, but they come with strict verification requirements.
These riders typically require that you confirm any change in wiring instructions through a callback to a previously verified phone number. If you skip the callback and the funds are stolen, the carrier may deny the claim. The verification protocol is not a suggestion: it is a condition of coverage.
Real claims illustrate the exposure more clearly than abstract descriptions. Here are patterns that repeat across the technology sector:
- A SaaS company deploys a billing module that overcharges 12,000 end users over six months. The client demands $410,000 in restitution costs plus $150,000 in legal fees. The tech E&O form responds to the defense and indemnity obligation.
- An MSP fails to complete a server migration on schedule, causing a healthcare client to miss a compliance deadline. The healthcare company faces a regulatory fine and sues the MSP for $275,000. The policy form may respond, but only if the regulatory fine is not excluded as a penalty.
- A custom software vendor delivers an inventory management system that miscounts stock levels. The client loses $600,000 in downstream sales. The vendor's tech E&O policy covers defense costs and settlement, but a sublimit on the policy caps the payout at $500,000.
Average defense costs for technology professional liability claims range from $50,000 to $150,000 depending on complexity and jurisdiction. Settlement amounts vary widely, but six-figure demands are common even for small firms.
We start with a twenty-minute call to walk through your contracts, your draw process, your tech stack, and the last twelve months of attempted fraud. From there we go to market with ten-plus carriers, benchmark terms side-by-side, and present the options in plain language with recommended limits and retentions. Most intakes get indicative terms within one business day.
| Coverage Element | Commercial General Liability | Cyber Insurance |
|---|---|---|
| Data breach notification costs | Not covered | Covered under first-party |
| Ransomware payment | Not covered | Covered (subject to sublimit) |
| Regulatory defense | Not covered | Covered under third-party |
| Business interruption from cyberattack | Not covered | Covered with waiting period |
| Funds transfer fraud | Not covered | Covered via cyber crime endorsement |
| Third-party lawsuit over data loss | Excluded or severely limited | Covered under third-party liability |
| Technology product failure | Not covered | Covered under Tech E&O |
How much does a typical PCI forensic investigation cost?
PFI engagements range from $20,000 for a simple, small-merchant investigation to $120,000 or more for complex environments with multiple locations or e-commerce platforms. The card brands dictate the scope, and the merchant pays.
A cyber liability policy can pay for forensic investigation, breach notification costs, credit monitoring, public relations, legal defense, regulatory fines where insurable by law, business interruption losses, and data restoration expenses. The specific scope depends entirely on the insuring agreements and endorsements in your policy form.
FAQ: What does cyber insurance actually pay for?
The distinction is clear: general liability policies contain electronic data exclusions and are not designed to respond to cyber events. Treating a general liability policy as a substitute for a dedicated cyber form is a common and expensive mistake.
Underwriting Requirements for Florida Contractors
Carriers writing cyber coverage for construction firms have tightened their underwriting standards significantly since 2023. A completed application is only the starting point. Most underwriters now require evidence of specific technical controls before they will quote.
Expect questions about your email security configuration, endpoint detection tools, backup frequency and segregation, employee training cadence, and incident response planning. Firms that cannot demonstrate baseline controls will either receive declinations or face significantly higher premiums with restrictive terms.
Multi-Factor Authentication (MFA) Mandates
MFA on email, remote access, and administrative accounts is a non-negotiable underwriting requirement for virtually every carrier writing cyber in 2026. If your firm uses Microsoft 365 or Google Workspace without MFA enabled, you will not receive a competitive quote.
The requirement extends beyond the main office. Project managers accessing email from jobsite tablets, superintendents using mobile devices, and accounting staff working remotely all need MFA enforced. Carriers verify this during the application process and may require a screenshot or attestation from your IT provider.
Wire Transfer Verification Protocols
Because draw request fraud is the dominant construction cyber claim, underwriters want documented wire transfer verification procedures. A written protocol should specify that any new or changed wiring instructions must be verified through a phone call to a number on file, not a number provided in the email requesting the change.
Some carriers also require dual authorization for transfers above a stated threshold, typically $25,000 or $50,000. Your accounting team should maintain a log of verification calls. If a claim arises and you cannot demonstrate that the protocol was followed, coverage may not respond.
We start with a twenty-minute call to walk through your contracts, your draw process, your tech stack, and the last twelve months of attempted fraud. From there we go to market with ten-plus carriers, benchmark terms side-by-side, and present the options in plain language with recommended limits and retentions. Most intakes get indicative terms within one business day.
No. A data breach or cyberattack is a cyber liability exposure, not a technology E&O exposure. You need a separate cyber liability policy form to cover breach response, notification costs, regulatory defense, and third-party claims arising from a security incident. Many technology companies carry both policies because the exposures are distinct.
FAQ: Does this cover me if I get hacked?
P2PE encrypts cardholder data from the point of interaction (the card reader) to the payment processor's secure decryption environment. A validated P2PE solution removes your systems from PCI scope for those transactions, which directly reduces both your compliance burden and your risk profile. Underwriters recognize P2PE as a meaningful risk reduction and may offer premium credits for merchants using validated solutions.
Implementing Point-to-Point Encryption (P2PE)
The Underwriter's Review of Data Rooms
Underwriters expect access to the buyer's due diligence reports, the virtual data room, and the near-final purchase agreement. They review financial, tax, legal, environmental, intellectual property, and employment diligence. Gaps in diligence translate to broader exclusions on the policy. If the buyer skipped an environmental Phase I assessment, for instance, the underwriter will likely exclude environmental representations from coverage entirely. Firms like Bloc Cyber, whose practice centers on reading policy forms at the insuring-agreement level, often advise clients that the quality of your diligence directly determines the quality of your coverage.
Does a standard business owner's policy cover wire fraud losses? No. BOP policies and general liability forms exclude electronic theft and funds transfer fraud. You need a standalone cyber policy with a specific social engineering or funds transfer fraud insuring agreement.
Will my cyber policy respond if a core provider outage is not caused by a cyberattack? It depends on the form. Some policies only cover "security failures" at dependent entities, while others extend to "system failures." Confirm the trigger language before binding.
Are FTC fines under the Safeguards Rule insurable? Insurability of regulatory fines varies by state. Many cyber policies cover fines and penalties "where insurable by law," but the practical answer depends on your jurisdiction and the specific penalty assessed.
How much cyber insurance does a community bank need? There is no universal answer, but institutions processing significant wire volume should ensure their aggregate limit and sublimits can absorb a realistic worst-case fraud loss plus concurrent regulatory defense costs. A $3 million to $5 million aggregate is a common starting point for institutions with $100 million to $500 million in assets.
Does cyber insurance cover customer reimbursement after an account takeover? Some policies include customer notification and credit monitoring costs, but direct reimbursement of stolen customer funds typically requires a crime or fidelity endorsement, not the standard cyber form.
DWhat happens if I'm not compliant at the time of a breach?
Common Questions About Construction Cyber Coverage
Does my builder's risk policy cover a cyberattack on building automation systems? Most builder's risk forms exclude cyber events. A standalone cyber policy or a specific cyber endorsement on the builder's risk form may respond, but the coverage depends entirely on how the form is written.
How much does cyber coverage cost for a mid-size Florida contractor? Premium varies based on revenue, controls, and limits. A firm with $10 million to $50 million in revenue typically pays between $5,000 and $25,000 annually for $1 million to $3 million in limits.
Will cyber insurance pay if an employee falls for a phishing email? Yes, most forms cover losses arising from social engineering, but sublimits and verification requirements apply. The payout depends on whether your firm followed the verification protocols required by the policy.
Are subcontractors covered under my cyber policy? Generally, no. Your policy covers your organization. Subcontractors need their own coverage, and you should consider requiring proof of cyber insurance in your subcontract agreements.
Does Florida law require construction firms to carry cyber insurance? No state statute mandates cyber coverage for contractors. However, project owners, lenders, and government agencies increasingly require it as a contract condition.
What happens if we do not have an incident response plan? Some carriers will still quote coverage, but your premium will reflect the added risk. An incident response plan also accelerates your recovery and reduces total claim costs, so it is worth developing regardless of the underwriting impact.
Real claims illustrate the exposure more clearly than abstract descriptions. Here are patterns that repeat across the technology sector:
- A SaaS company deploys a billing module that overcharges 12,000 end users over six months. The client demands $410,000 in restitution costs plus $150,000 in legal fees. The tech E&O form responds to the defense and indemnity obligation.
- An MSP fails to complete a server migration on schedule, causing a healthcare client to miss a compliance deadline. The healthcare company faces a regulatory fine and sues the MSP for $275,000. The policy form may respond, but only if the regulatory fine is not excluded as a penalty.
- A custom software vendor delivers an inventory management system that miscounts stock levels. The client loses $600,000 in downstream sales. The vendor's tech E&O policy covers defense costs and settlement, but a sublimit on the policy caps the payout at $500,000.
Average defense costs for technology professional liability claims range from $50,000 to $150,000 depending on complexity and jurisdiction. Settlement amounts vary widely, but six-figure demands are common even for small firms.
We start with a twenty-minute call to walk through your contracts, your draw process, your tech stack, and the last twelve months of attempted fraud. From there we go to market with ten-plus carriers, benchmark terms side-by-side, and present the options in plain language with recommended limits and retentions. Most intakes get indicative terms within one business day.
| Coverage Element | Commercial General Liability | Cyber Insurance |
|---|---|---|
| Data breach notification costs | Not covered | Covered under first-party |
| Ransomware payment | Not covered | Covered (subject to sublimit) |
| Regulatory defense | Not covered | Covered under third-party |
| Business interruption from cyberattack | Not covered | Covered with waiting period |
| Funds transfer fraud | Not covered | Covered via cyber crime endorsement |
| Third-party lawsuit over data loss | Excluded or severely limited | Covered under third-party liability |
| Technology product failure | Not covered | Covered under Tech E&O |
How much does a typical PCI forensic investigation cost?
PFI engagements range from $20,000 for a simple, small-merchant investigation to $120,000 or more for complex environments with multiple locations or e-commerce platforms. The card brands dictate the scope, and the merchant pays.
A cyber liability policy can pay for forensic investigation, breach notification costs, credit monitoring, public relations, legal defense, regulatory fines where insurable by law, business interruption losses, and data restoration expenses. The specific scope depends entirely on the insuring agreements and endorsements in your policy form.
FAQ: What does cyber insurance actually pay for?
The distinction is clear: general liability policies contain electronic data exclusions and are not designed to respond to cyber events. Treating a general liability policy as a substitute for a dedicated cyber form is a common and expensive mistake.
Your Next Steps for Securing the Jobsite
Florida construction firms face cyber exposures that their traditional insurance programs do not address. Wire fraud targeting draw requests, data breaches exposing project files and client information, and vulnerabilities in smart building systems all require purpose-built coverage. The underwriting bar has risen: carriers expect MFA, documented wire verification protocols, and evidence of employee training before they will offer competitive terms.
The difference between a policy that pays a claim and one that does not often comes down to how the form was written and whether the insured met the conditions embedded in the endorsements. Bloc Cyber reviews coverage at the insuring agreement level, identifying sublimits, exclusions, and verification requirements before you bind, so there are no surprises when a claim arrives.
If your firm processes draw requests, stores project data, or installs connected building systems, request a coverage review to have a specialist walk through the policy form with you. Understanding what your policy actually covers is the most practical step you can take before the next wire transfer hits your inbox.
ABOUT THE AUTHOR
Caden Braly
— Founder, Bloc Cyber
I'm Caden Braly, founder of Bloc Cyber, the specialty cyber insurance arm of Braly Insurance. I built Bloc Cyber around one idea: businesses deserve coverage that actually responds when a cyberattack happens. I work closely with clients to understand their exposure, place the right policy through specialty carriers, and stand with them through the claim. My goal is simple — give every business straight answers and protection they can trust.
Full profile → caden@bloccyber.com LinkedIn
Industries We Protect
Cyber Coverage Built for Your Industry
Every industry faces a different cyber threat, from patient records in healthcare to wire fraud in construction. Bloc Cyber matches coverage to the risks your sector actually faces, drawing on specialty carriers that understand your business. Find your industry below to see how we protect it.
Healthcare
Banking
Retail / E-Commerce
Legal
Technology / SaaS
Education
Energy / Utilities
Manufacturing
Construction
Defense
Healthcare
HIPAA-grade protection for patient data
725
healthcare breaches disclosed in 2024
HIPAA-grade protection for patient data
▣ Ransomware on EHR systems
▣ PHI exfiltration
▣ Medical device exploits
▣ Business email compromise
Sub-sectors we place
Hospitals and health systems
Physician practices and specialty clinics
Dental practices and DSOs
Behavioral health and addiction treatment centers
Medical billing and revenue cycle management firms
Typical turnaround for indication of terms: 1 business day.
Banking
Coverage that meets FFIEC and NYDFS expectations
$5.9M
average cost of a financial sector breach
Common threats we underwrite against
▣ Wire fraud and BEC
▣ Credential stuffing
▣ Third-party vendor risk
▣ Ransomware
Sub-sectors we place
Community banks
Credit unions
Mortgage lenders and loan originators
Wealth management and RIAs
Payment processors and merchant acquirers
Typical turnaround for indication of terms: 1 business day.
Retail / E-Commerce
PCI-DSS aligned coverage for every checkout
42%
of retailers hit by ransomware in the last year
Common threats we underwrite against
▣ Magecart / card skimming
▣ POS malware
▣ Account takeover
▣ Supply-chain intrusion
Sub-sectors we place
Direct-to-consumer (DTC) brands
Shopify and marketplace sellers
Brick-and-mortar multi-location retailers
Restaurants and QSR franchises
Grocery and specialty food retail
Typical turnaround for indication of terms: 1 business day.
Legal
Privilege, client files, and trust-account safeguards
1 in 4
law firms reported a breach in 2024
Common threats we underwrite against
▣ Wire-transfer fraud
▣ Privileged data theft
▣ Email account compromise
▣ Ransomware
Sub-sectors we place
AmLaw / large firms
Boutique litigation firms
Personal injury and plaintiffs’ firms
Estate planning and trust attorneys
Title and real estate closing firms
Typical turnaround for indication of terms: 1 business day.
Technology / SaaS
SOC 2 and ISO-aligned risk transfer
$4.88M
avg. cost of a SaaS breach in 2024
Common threats we underwrite against
▣ Supply-chain attacks
▣ Cloud misconfiguration
▣ Token and key theft
▣ Zero-day exploits
Sub-sectors we place
B2B SaaS platforms
Managed service providers (MSPs) and MSSPs
Fintech startups
AI and machine learning companies
Cloud hosting and infrastructure providers
Typical turnaround for indication of terms: 1 business day.
Education
FERPA-aligned coverage for student and research data
80%
of K–12 districts hit by ransomware since 2022
Common threats we underwrite against
▣ Ransomware on district networks
▣ Student PII theft
▣ Fake invoice fraud
▣ DDoS on exam platforms
Sub-sectors we place
K-12 public school districts
Private and charter schools
Colleges and universities
EdTech platforms
Tutoring, test prep, and online learning providers
Typical turnaround for indication of terms: 1 business day.
Energy / Utilities
OT and IT coverage for critical infrastructure
24/7
operational-tech monitoring requirements
Common threats we underwrite against
▣ ICS/SCADA intrusion
▣ Nation-state actors
▣ Ransomware on OT
▣ Insider threat
Sub-sectors we place
Municipal utilities (water, electric, gas)
Oil and gas operators
Pipeline and midstream companies
Renewable energy (solar, wind) developers
Electric cooperatives and rural utilities
Typical turnaround for indication of terms: 1 business day.
Manufacturing
Business interruption protection for connected plants
25%
of all ransomware attacks target manufacturing
Common threats we underwrite against
▣ Ransomware halting production
▣ IP theft
▣ ICS exploits
▣ Vendor compromise
Sub-sectors we place
Industrial and heavy equipment manufacturers
Food and beverage processing
Pharmaceutical and medical device manufacturers
Automotive and parts suppliers
Aerospace component manufacturers
Typical turnaround for indication of terms: 1 business day.
Construction
Protection for project files, wires, and jobsite tech
$200K+
average wire-fraud loss in construction
Common threats we underwrite against
▣ Wire-transfer diversion
▣ BEC on project payments
▣ Stolen bid data
▣ Ransomware
Sub-sectors we place
General contractors
Commercial HVAC, electrical, and plumbing subs
Civil and infrastructure contractors
Homebuilders and residential developers
Architecture and engineering (A&E) firms
Typical turnaround for indication of terms: 1 business day.
Defense
CMMC, DFARS, and CUI-compliant risk transfer
CMMC
2.0 compliance required by 2026
Common threats we underwrite against
▣ CUI exfiltration
▣ Nation-state APTs
▣ Supply-chain compromise
▣ Cleared-personnel targeting
Sub-sectors we place
DoD prime contractors
CMMC-regulated subcontractors
Defense software and systems integrators
Aerospace and satellite contractors
Federal IT and cleared staffing firms
Typical turnaround for indication of terms: 1 business day.
The Bloc system
One foundation.
Ten industry-specific builds.
The Bloc mark is built from stackable planes — each one a different angle on the same core structure. That’s how we place coverage: one underwriting discipline, tuned and re-tuned for every industry we serve.
Coverage
A policy you can actually read.
Structured in three clean blocs.
01
First-Party
Your direct losses when an incident hits your business.
✓
Incident response & forensics
✓
Business interruption
✓ Data restoration
✓ Cyber extortion / ransomware
✓ Funds transfer fraud
✓ Reputational harm
02
Third-Party
Your liability to clients, partners, and regulators.
✓
Network security liability
✓
Privacy liability (HIPAA, GDPR, state laws)
✓ Regulatory defense & fines
✓ PCI-DSS fines and assessments
✓ Media liability
✓ Breach notification costs
03
Specialty
Advanced coverages for complex risks and contracts.
✓
Technology E&O
✓
Social engineering fraud
✓ Contingent business interruption
✓ Systems failure
✓ Bricking & hardware replacement
✓ CMMC / regulatory-specific endorsements
Typical limits placed
$1M / $1M starter
$5M / $10M mid-market
$25M+ layered towers
Custom retentions
Common Questions
Cyber Liability Insurance, Explained
What does cyber insurance cover?
Cyber insurance covers the financial losses from a data breach or cyberattack. This includes breach response, legal fees, customer notification, ransomware, business interruption, and regulatory fines, depending on your policy.
Does my business really need cyber insurance?
Yes. Any business that stores customer data, processes payments, or relies on connected systems faces cyber risk. Small and mid-sized companies are frequent targets because they often have fewer defenses.
How much does cyber insurance cost?
Cost depends on your industry, revenue, data volume, and security practices. We market your risk to multiple carriers to find strong coverage at a competitive price. Request a quote for an exact figure.
What is the difference between first-party and third-party cyber coverage?
First-party coverage pays for your own losses, like data recovery and lost income. Third-party coverage pays for claims from others harmed by a breach on your systems.
How fast can I get a quote?
Most clients receive a quote in under 24 hours after we review the details of their business and exposure.
What should I do first after a cyberattack?
Contact us right away. We help you start breach response, connect you with forensic and legal support, and guide your claim so you contain the damage quickly.
Insights
Field notes from the placement desk.
What carriers are asking right now.
Start a quote
Tell us about your business.
We’ll come back with terms.
We’ll review your stack, your contracts, and your exposure — then place the program against the right markets. Most intakes get indicative terms back within one business day.
01
Quick intake
We only ask what the carriers actually need.
02
Benchmark
Side-by-side terms from 10+ specialty cyber carriers.
03
Bind
Plain-language policy review, e-signed and in force.
