Managing Ransomware and District-Wide Shutdowns
Ransomware attacks against schools rarely affect a single workstation. Attackers typically move laterally through the network before deploying encryption, locking down student information systems, email, grading platforms, and building access controls simultaneously. The operational disruption is immediate and total.
The start of the 2025 academic year was marked by a wave of cyberattacks that forced multiple districts into emergency response mode. Business interruption coverage in a cyber policy can respond to these events, but only if the waiting period and coverage trigger are properly structured. A 12-hour waiting period may be reasonable for a corporation; for a school district that must open its doors every morning, even a few hours of downtime creates cascading problems. The policy form matters here: the difference between "system failure" and "security event" as a trigger can determine whether the claim is paid.
A single ransomware event can freeze patient records, lock client trust accounts, or halt trading operations for days. For New York businesses in regulated industries, the financial exposure from a cyber incident is compounded by some of the strictest data security statutes in the country. The SHIELD Act imposes broad data protection obligations on any company holding private information of New York residents, while DFS Part 500 layers additional cybersecurity requirements on financial services entities. Understanding how cyber liability coverage responds to these obligations is not optional: it is a prerequisite for operating responsibly in this state. This guide breaks down the coverage structures, compliance triggers, and industry-specific risks that New York financial services firms, healthcare organizations, and law practices face when purchasing or renewing a cyber insurance policy. Whether you are buying your first policy or reassessing limits after a near-miss, the goal here is to give you a clear, form-level understanding of what your coverage should actually do when a claim arrives.
Cyber Liability Fundamentals for New York Businesses
Cyber liability insurance is not a single product. It is a collection of insuring agreements, each responding to a different phase or consequence of a data security event. For a New York business subject to state-specific notification mandates and regulatory investigations, the distinction between what a policy covers on your side of the loss versus what it covers when a third party comes after you is critical.
First-Party vs. Third-Party Coverage Explained
First-party coverage pays for your own costs: forensic investigation, data restoration, business interruption losses, notification expenses, and crisis communications. If a ransomware attack takes your network offline for 72 hours, first-party insuring agreements are what respond to your lost revenue and the cost of rebuilding systems.
Third-party coverage responds when someone else brings a claim against you. That could be a regulatory action by the DFS, a class-action lawsuit from affected individuals, or a contractual indemnity demand from a business partner whose data you were holding. New York's regulatory environment makes third-party exposure especially acute: a DFS enforcement action can carry civil penalties, and the SHIELD Act creates a private right of action framework that plaintiffs' attorneys watch closely.
A common mistake among first-time buyers is assuming a general commercial policy or a bundled "cyber endorsement" on a BOP addresses both sides. It rarely does. At Bloc Cyber, we review each insuring agreement and endorsement individually to identify where coverage grants stop, so you are not discovering gaps during a claim.
Ransomware and Social Engineering Endorsements
Ransomware coverage and social engineering fraud coverage are frequently sublimited or excluded entirely from base cyber forms. Ransomware insuring agreements typically cover the extortion payment itself (where legally permissible) plus the costs of negotiation and forensic response. Social engineering endorsements cover losses from fraudulent transfer schemes: a spoofed email directing your controller to wire funds to a criminal's account.
Both endorsements carry waiting periods, sublimits, and specific conditions that vary dramatically between policy forms. A $1 million aggregate limit with a $100,000 ransomware sublimit is not the same as a $1 million policy with full limits applying to ransomware. The FBI reported that
healthcare was the sector most targeted by ransomware and related cyber threats in 2025, and New York-based practices were disproportionately affected. You need to know exactly what your form pays before you need it to pay.
By: Caden Braly
Founder of Bloc Cyber Insurance
INDEX
Cyber Liability Fundamentals for New York Businesses
Navigating the NY SHIELD Act and DFS Part 500 Compliance
Industry-Specific Risks: Finance, Healthcare, and Law
Comparison: General Liability vs. Standalone Cyber Insurance
Critical Policy Components and Coverage Limits
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.
Statutory Notification and Breach Response Timelines
New York requires notification to affected individuals "in the most expedient time possible and without unreasonable delay." DFS-regulated entities face a tighter window: 72 hours to notify the superintendent after determining a cybersecurity event has occurred. Late 2024 amendments further tightened these notification obligations and expanded reporting triggers.
Your cyber policy's breach response coverage should include access to a panel of pre-approved breach counsel and forensic vendors who can mobilize within hours, not days. The retention (your deductible) on breach response costs matters here: a $25,000 retention on notification expenses can consume a significant portion of a small firm's incident budget before the policy begins to pay.
Navigating the NY SHIELD Act and DFS Part 500 Compliance
New York operates two overlapping but distinct cybersecurity regulatory frameworks. Both create direct exposure for businesses, and both influence how a cyber policy should be structured.
SHIELD Act Data Security Requirements
The Stop Hacks and Improve Electronic Data Security Act applies to any person or business that owns or licenses computerized data containing the private information of a New York resident, regardless of where that business is located. The Act expanded the definition of "private information" to include biometric data and account credentials, and it requires "reasonable safeguards" across administrative, technical, and physical dimensions.
Small businesses (under 50 employees, under $3 million in gross revenue, or under $5 million in year-end total assets) can satisfy the standard with a simplified security program. Everyone else must implement a formal program with risk assessments, employee training, vendor management, and incident response planning. Failure to maintain reasonable safeguards can itself become the basis for regulatory action or civil liability after a breach.
NY DFS Requirements for Financial Institutions
DFS Part 500 is more prescriptive. It applies to entities licensed or operating under New York financial services law: banks, insurance companies, mortgage brokers, and similar regulated entities. The 2023 amendments introduced tiered requirements based on company size, with Class A companies (over $20 million in gross annual revenue and more than 2,000 employees) facing the most stringent obligations.
By November 2025, all covered entities were required to implement universal multi-factor authentication across all information systems. DFS has also issued guidance on managing cybersecurity risks from third-party service providers, signaling that vendor oversight failures will draw enforcement attention. A cyber policy form that excludes regulatory defense costs or caps them at a low sublimit leaves a DFS-regulated entity dangerously exposed.
Statutory Notification and Breach Response Timelines
New York requires notification to affected individuals "in the most expedient time possible and without unreasonable delay." DFS-regulated entities face a tighter window: 72 hours to notify the superintendent after determining a cybersecurity event has occurred. Late 2024 amendments further tightened these notification obligations and expanded reporting triggers.
Your cyber policy's breach response coverage should include access to a panel of pre-approved breach counsel and forensic vendors who can mobilize within hours, not days. The retention (your deductible) on breach response costs matters here: a $25,000 retention on notification expenses can consume a significant portion of a small firm's incident budget before the policy begins to pay.
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.
The distinction is not academic. A retailer relying on a BOP endorsement labeled "data breach" may find it provides only $50,000 in notification expense coverage with no provision for PCI assessments, forensic fees, or regulatory defense. That is not cyber insurance; it is a marketing feature.
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
Litigation Buyout: Ringfencing Known Legal Disputes
When a target company has pending or threatened litigation, the buyer faces a binary problem: either reduce the purchase price to account for the worst-case outcome or find a way to transfer the risk. A litigation buyout policy does the latter. The insurer assumes the financial exposure of the identified lawsuit in exchange for a one-time premium. Capital commitments in the litigation finance sector rebounded 23% after a two-year contraction, which has expanded insurer appetite for these placements.
| Coverage Element | Basic Cyber Policy | Comprehensive Cyber Policy |
|---|---|---|
| Breach notification costs | Included | Included |
| Forensic investigation | Included, often sublimited | Included with higher limits |
| Regulatory defense (state AG) | Included | Included |
| Government contract disputes | Typically excluded | May be covered by endorsement |
| DFARS 72-hour reporting costs | Not addressed | Can be included |
| Business interruption | Limited waiting period, sublimited** | Lower waiting period, full limit |
| Subcontractor/supply chain liability | Excluded | Available by endorsement |
| CUI-specific breach response | Not differentiated | Addressed in form language |
| False Claims Act defense | Excluded | May be available |
Industry-Specific Risks: Finance, Healthcare, and Law
Each regulated industry in New York faces a distinct threat profile that shapes how coverage should be structured.
Financial services firms contend with wire fraud, account takeover, and regulatory scrutiny from both state and federal agencies. A single social engineering loss can exceed six figures, and DFS enforcement actions carry reputational consequences that compound the financial damage. The
2025 Q3 cyber market update showed that financial services firms continued to face tightening underwriting scrutiny, particularly around MFA implementation and endpoint detection.
HIPAA and Patient Data Protection in Healthcare
Healthcare organizations face a dual regulatory burden: HIPAA at the federal level and the SHIELD Act at the state level. A breach of protected health information triggers notification obligations under both frameworks, and the Office for Civil Rights can impose penalties independent of any state action. Cyber policy forms for healthcare buyers should include regulatory defense coverage that responds to both HIPAA and state investigations, with limits sufficient to cover parallel proceedings.
Ransomware risk is particularly acute. When an electronic health record system goes down, patient care is directly affected, and the business interruption losses extend beyond revenue to potential malpractice exposure.
Attorney-Client Privilege and Legal Malpractice Links
Law firms hold some of the most sensitive data of any industry: privileged communications, litigation strategy, M&A deal terms, and personal financial records. A breach at a law firm can expose not just the firm but its clients to cascading liability. Cyber coverage for legal practices should address the intersection of data breach and legal malpractice, because a failure to safeguard client data can become the basis for a malpractice claim.
New York law firms handling financial transactions or real estate closings face particular social engineering risk. Wire fraud schemes targeting real estate closings remain a persistent threat, and the policy form needs to respond to both the direct financial loss and the professional liability exposure.
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.
MFA for Remote Access and Privileged Accounts
Comparison: General Liability vs. Standalone Cyber Insurance
| Feature | General Liability / BOP Cyber Endorsement | Standalone Cyber Policy |
|---|---|---|
| First-Party Breach Costs | Typically excluded or sublimited to $50K-$100K | Full policy limits available |
| Ransomware / Extortion | Usually excluded | Covered (may be sublimited) |
| Regulatory Defense | Not covered | Covered, including DFS and HIPAA proceedings |
| Social Engineering Fraud | Not covered | Available by endorsement |
| Business Interruption (Cyber) | Not covered | Covered with waiting period |
| Breach Notification Costs | Minimal or excluded | Covered, including credit monitoring |
| Panel Counsel / Forensics | No pre-arranged vendors | Carrier-approved panel available 24/7 |
A general liability policy was never designed to respond to a network intrusion or a regulatory investigation under Part 500. Treating a cyber endorsement on a package policy as adequate coverage is one of the most frequent and costly mistakes we see among mid-market buyers.
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)
FAQ: Will my insurance pay for a CMMC assessment audit?
Standard cyber liability forms do not cover voluntary compliance audits. Some policies include a "cybersecurity improvement" sublimit after a covered incident, but pre-breach assessment costs are a business expense, not an insurable loss.
FAQ: How does NIST 800-171 compliance help if I get hacked?
Documented compliance demonstrates you took reasonable measures to protect CUI. This strengthens your defense in regulatory proceedings and can support your claim that the breach was not caused by negligence. It also reduces the likelihood of a carrier denying your claim based on failure to maintain represented security controls.
Critical Policy Components and Coverage Limits
Five elements of a cyber policy form deserve close attention before binding:
- Aggregate vs. per-occurrence limits: Most cyber forms are written on an aggregate basis, meaning all claims in the policy period share a single pool of limits. A $2 million aggregate can be consumed by a single large event.
- Retention structure: Some forms apply a single retention per event; others apply separate retentions to different insuring agreements. Know which costs hit your retention and which do not.
- Waiting periods for business interruption: These typically range from 6 to 12 hours. A shorter waiting period costs more but pays out faster during an extended outage.
- Sublimits on ransomware and social engineering: Check whether these are carved out of the aggregate or sit beneath it. A $250,000 sublimit on a $2 million policy may be inadequate for a targeted attack.
- Prior acts and retroactive dates: If you are switching carriers, confirm the new form covers claims arising from incidents that occurred before the policy inception, back to an agreed retroactive date.
At Bloc Cyber, this form-level review happens before binding, not after a claim. The point is to identify where the coverage grant ends and what that gap will cost you if a loss falls into it.
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 |
Will my policy pay for the fines if I'm not compliant?
This depends entirely on the policy form. Some forms cover PCI fines only if the merchant was making good-faith compliance efforts. Others exclude fines arising from known non-compliance. Read the exclusions carefully before binding.
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.
What is the difference between a fine and an assessment?
A fine is a penalty for non-compliance with PCI DSS standards. An assessment is a cost-recovery mechanism: the card brands and issuing banks recoup their actual losses (fraud charges, card replacement costs) from the breached merchant. Both are financial obligations, but they arise from different triggers and may be treated differently under a policy form.
Common Questions About New York Cyber Coverage
Does the SHIELD Act apply to businesses located outside New York? Yes. Any business that holds private information of New York residents is subject to the Act's data security requirements, regardless of where the business is headquartered.
Is cyber insurance required by New York law? No statute mandates the purchase of cyber insurance. However, DFS Part 500 requires covered entities to maintain a cybersecurity program, and many organizations find that a cyber policy is the most practical way to fund incident response and regulatory defense.
What is the average cost of a cyber policy for a mid-market New York firm? Premiums vary based on revenue, industry, claims history, and security posture. A 50-person financial services firm might see annual premiums ranging from $8,000 to $25,000 for $1 million to $3 million in limits, depending on the form and retention.
Can my firm be fined for a breach even if we have cyber insurance? Yes. Insurance can fund your defense and, in many forms, cover the fines and penalties themselves where insurable by law. But the policy does not prevent the regulatory action from occurring.
Does cyber insurance cover employee errors that cause a breach? Most standalone forms cover "wrongful acts" by employees, including negligent handling of data. The specific definition in your policy form controls whether a particular mistake triggers coverage.
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)
FAQ: Will my insurance pay for a CMMC assessment audit?
Standard cyber liability forms do not cover voluntary compliance audits. Some policies include a "cybersecurity improvement" sublimit after a covered incident, but pre-breach assessment costs are a business expense, not an insurable loss.
FAQ: How does NIST 800-171 compliance help if I get hacked?
Documented compliance demonstrates you took reasonable measures to protect CUI. This strengthens your defense in regulatory proceedings and can support your claim that the breach was not caused by negligence. It also reduces the likelihood of a carrier denying your claim based on failure to maintain represented security controls.
The Bottom Line: Protecting Your Firm's Reputation
A data breach or ransomware event does more than generate immediate costs. It erodes client trust, triggers regulatory scrutiny, and can define your firm's public identity for years. For New York businesses operating under the SHIELD Act and DFS Part 500, the regulatory consequences alone justify a carefully structured cyber liability policy.
The right coverage is not about buying the largest limit available. It is about understanding which insuring agreements respond to your specific risks, where sublimits and retentions create gaps, and how the policy form interacts with your regulatory obligations. A policy that looks adequate on the declarations page can fail at the claim level if the endorsements and exclusions have not been reviewed line by line.
If you are evaluating cyber coverage for the first time or questioning whether your current form holds up under New York's regulatory requirements,
request a policy review with a specialist who will walk through the insuring agreements with you. No pricing promises, no coverage guarantees: just a clear reading of what your form does and does not do.
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.
