A single ransomware event or stolen database can trigger a cascade of expenses that most New York business owners have never budgeted for: forensic investigators, outside counsel, state-mandated notifications, credit monitoring subscriptions, and call-center staffing. The average cost of a data breach in the United States has now climbed to $10.22 million per incident, a figure driven largely by regulatory penalties and post-breach litigation. For companies operating in New York City, Buffalo, or Rochester, the financial exposure is compounded by some of the most prescriptive breach-notification statutes in the country. Data breach response insurance exists to absorb those first-party costs, but the specifics of what a policy actually covers, and where the sublimits cut off, vary enormously from one form to the next. Understanding how forensic investigation, breach coach fees, and consumer notification coverage work under New York law is not optional knowledge for a business owner carrying sensitive customer data. It is a prerequisite for buying a policy that will actually perform when a claim arrives. This guide breaks down each component of a New York data breach response policy, explains how the SHIELD Act shapes your obligations, and identifies the coverage gaps that catch small and mid-market companies off guard.
Understanding Data Breach Response Insurance in New York
Data breach response coverage is a first-party insuring agreement that pays the costs you incur directly after a confirmed or suspected breach. It typically funds forensic investigation, legal counsel, notification mailings, credit monitoring, and public relations support. Unlike third-party cyber liability, which responds to lawsuits and regulatory actions brought against you, first-party response coverage pays your own out-of-pocket expenses before any lawsuit is ever filed.
New York is a particularly demanding jurisdiction. The state's breach-notification statute imposes tight timelines, specific content requirements for notices, and mandatory reporting to the Attorney General, the Department of Financial Services, and the Division of State Police. Missing any of these steps exposes you to enforcement action, which is why pairing the right policy form with competent breach counsel matters more here than in most states.
Compliance with the NY SHIELD Act
The Stop Hacks and Improve Electronic Data Security Act, commonly called the SHIELD Act, expanded New York's definition of private information and broadened the category of businesses required to notify consumers. Any company that holds private information of a New York resident, regardless of where the company is physically located, is subject to the statute. Private information now includes biometric data, email credentials paired with passwords, and financial account numbers.
The SHIELD Act also mandates that businesses implement "reasonable safeguards" for data protection. Failure to maintain those safeguards can itself become evidence in a regulatory action or civil suit. Starting in 2025, amended notification requirements added more prescriptive rules around the content and timing of consumer notices. A data breach response policy form should explicitly cover the cost of complying with these notification mandates, including the expense of re-issuing corrected notices if an error occurs.
First-Party vs. Third-Party Coverage Needs
First-party coverage pays for your direct expenses: forensics, notification, credit monitoring, call centers, and crisis communications. Third-party coverage responds when someone sues you or a regulator investigates you because of the breach. Most small and mid-market businesses need both, but they are often written as separate insuring agreements with independent sublimits and retentions.
A common mistake is assuming a single "cyber policy" covers everything. In practice, a policy form might carry a $1 million aggregate limit but cap first-party breach response at $100,000. That sublimit can evaporate within days once forensic investigators and outside counsel begin billing. Before binding, you should know exactly where each sublimit sits. This is the kind of form-level review that Bloc Cyber performs before placement, reading the actual insuring agreements and endorsements rather than relying on marketing summaries.
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.
The Role of Breach Coaches and Legal Counsel
A breach coach is typically an attorney from a specialized privacy and data security practice who coordinates the entire response effort. This person directs forensic investigators, manages regulatory notifications, oversees consumer notice drafts, and advises on litigation risk. The breach coach's involvement is not a luxury; it is the mechanism that establishes attorney-client privilege over the forensic investigation.
Most policy forms include a panel of pre-approved breach counsel firms. Using a non-panel attorney may trigger a consent requirement or reduce coverage. You should review the panel list before buying the policy, not after an incident.
Attorney-Client Privilege in Forensic Investigations
When a breach coach retains the forensic investigation firm, the resulting report is generally protected by attorney-client privilege and work-product doctrine. If your IT department or an outside consultant conducts the investigation without counsel's direction, the findings may be fully discoverable in subsequent litigation. This distinction has real consequences. Plaintiffs' attorneys in class actions routinely seek forensic reports to establish the scope of exposure and the timeline of the company's awareness.
A well-structured policy form will require that forensic vendors be retained through breach counsel specifically to preserve this privilege. If the form does not address this workflow, you have a gap worth discussing with your broker before binding.
Navigating Regulatory Reporting in Buffalo and NYC
Buffalo-area businesses have seen direct consequences from data breaches in recent years. The Community Health Center of Buffalo disclosed a breach that exposed patient records, prompting both regulatory scrutiny and class action litigation. That litigation is a concrete example of how a single incident generates simultaneous first-party costs and third-party defense obligations.
Rochester has faced similar issues. In one case, patients received breach notices containing errors that created confusion and eroded trust, a reminder that notification compliance is not just a legal checkbox but a reputational exercise. For New York City businesses subject to the Department of Financial Services cybersecurity regulation (23 NYCRR 500), the reporting timeline is even shorter: 72 hours for covered entities. Breach counsel familiar with these overlapping obligations is essential.
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 |
Forensic Investigation and Consumer Notification Costs
Forensic investigation and consumer notification are the two largest line items in a typical breach response budget. A forensic engagement for a small or mid-market company can run $50,000 to $500,000 depending on the complexity of the network environment, the number of endpoints, and whether the threat actor is still active. Consumer notification costs scale with the number of affected individuals and include printing, mailing, call-center setup, and credit monitoring subscriptions.
Covering the High Cost of Digital Forensics
Digital forensics firms charge hourly rates that often exceed $400 per analyst, and a typical engagement requires multiple analysts working around the clock during the containment phase. The policy form may impose a sublimit on forensic costs, a waiting period before coverage attaches, or a requirement that you use a pre-approved vendor. Some forms also exclude costs incurred before the carrier grants formal consent to retain the forensic firm.
This is where reading the policy form before a claim matters. Bloc Cyber's practice centers on reviewing these sublimits, retentions, and consent requirements at the insuring-agreement level so that a business owner in Buffalo or Rochester knows exactly what the policy will pay before the incident occurs, not after.
Notification Limits and Credit Monitoring Requirements
New York does not prescribe a specific duration for credit monitoring, but industry practice and plaintiff expectations have settled around 12 to 24 months. The cost per affected individual typically ranges from $5 to $15 per month for monitoring services. For a breach affecting 10,000 records, that translates to $600,000 to $1.8 million in monitoring costs alone over two years.
Policy forms handle this differently. Some impose a per-record cap, others a flat sublimit, and still others fold notification and monitoring into the overall breach response sublimit. A data breach settlement involving a Buffalo-area healthcare provider reached $2.4 million, illustrating how quickly costs escalate when notification, monitoring, and litigation defense converge. If your policy sublimit for breach response sits at $250,000, you are carrying significant uninsured 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.
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.
Comparing Coverage: General Liability vs. Cyber Insurance
Many business owners assume their general liability or business owners policy covers a data breach. It almost certainly does not. Standard GL policies contain broad exclusions for electronic data, and most courts have upheld those exclusions. A standalone cyber policy, or at minimum a dedicated cyber endorsement, is the only reliable way to fund breach response costs.
Comparison Table: Standard GL vs. Specialized Cyber Policy
| Coverage Element | Standard GL Policy | Specialized Cyber Policy |
|---|---|---|
| Forensic investigation | Not covered | Covered, subject to sublimit |
| Breach coach / legal fees | Not covered | Covered, typically panel counsel |
| Consumer notification | Not covered | Covered, per-record or flat sublimit |
| Credit monitoring | Not covered | Covered, duration varies by form |
| Regulatory defense | Rarely covered | Covered under third-party agreement |
| Business interruption from cyber event | Excluded | May be covered with waiting period |
| PCI-DSS fines and assessments | Not covered | May be covered by endorsement |
| Social engineering fraud | Not covered | May be covered by endorsement |
The gap is not subtle. A GL policy was never designed to respond to a data breach, and treating it as a backstop creates a false sense of security.
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 New York Cyber Coverage
Does the SHIELD Act apply if my company is based outside New York? Yes. If you hold private information belonging to any New York resident, you are subject to the SHIELD Act's notification and data security requirements regardless of your physical location.
How quickly must I notify consumers after a breach in New York? The SHIELD Act requires notification "in the most expedient time possible and without unreasonable delay." There is no fixed number of days, but regulators expect notification within 30 to 60 days of completing the investigation.
Will my cyber policy cover fines from the NY Department of Financial Services? Some policy forms include regulatory penalty coverage; others exclude it or impose a separate sublimit. Insurability of fines also depends on whether New York law treats the specific penalty as insurable. This is a question to resolve before binding.
What happens if I use a forensic firm that is not on the carrier's approved panel? Most forms require prior written consent from the carrier. Using a non-approved firm without consent may result in reduced coverage or denial of the forensic costs.
Do I need a separate policy for each office location in New York? No. A single cyber policy typically covers all operations of the named insured entity. If you have separate legal entities in NYC, Buffalo, and Rochester, each entity may need to be scheduled as a named insured on the policy.
Is credit monitoring always required after a breach? New York does not mandate credit monitoring by statute, but offering it has become a practical necessity to reduce litigation risk and demonstrate good faith.
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.
Before You Buy a Policy
Data breach response insurance for New York businesses is not a commodity product you can evaluate on premium alone. The value of the policy lives in the details: sublimits, retentions, panel requirements, consent clauses, and how the form interacts with the SHIELD Act's notification mandates. A $1 million limit means little if forensic investigation is capped at $100,000 and notification costs are folded into the same sublimit.
For companies in New York City, Buffalo, and Rochester carrying customer data, employee records, or patient information, the question is not whether you need this coverage. The question is whether the form you are buying will actually respond to the breach you are most likely to face. If you have not had a specialist review your policy at the insuring-agreement level, request a coverage review so that a Bloc Cyber specialist can walk through the form with you before a claim exposes the gaps.
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.
