Top pick: Embroker
- 23 customizable policies
- Instant coverage in under 10 mins
- Personal advisors
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
Updated . What changed?
Cyber insurance can protect your business if it takes a hit from cybercrime during the coronavirus pandemic. For the most part, expect to need standard cyber coverage for restoring your business’s data. However, you might need extra security if you’re moving your business online or letting employees work from home.
Yes, cyber insurance protects your business against two main pandemic risks: hackers exploiting the virus to scam your employees and weakened security from at-home work.
Your policy will cover cyber attacks that use coronavirus topics, including malicious links, files or software. Coverage works the same as other cyber insurance claims, protecting you for:
Your policy should cover your computer systems even while employees work from home. However, make sure your policy doesn’t restrict remote work specifically or require extra security. You might need to notify your insurance company about your business’s remote work setup, letting it evaluate any new risks.
The mass migration online during the coronavirus has opened new opportunities for cybercriminals. Common coronavirus scams that could affect your business:
With the onset of the COVID-19 pandemic, many professionals across the US shifted to remote work — giving cybercriminals more opportunities to exploit weak cybersecurity. And cyber attacks have become more severe, according to Coalition’s 2020 Cyber Insurance Claims Report.
These were the key findings:
Your insurance company can provide more benefits than just financial backup during a cyber emergency. You might want a cyber insurance policy for:
In general, the same security measures you need in the office apply to remote work too. You might put these and other measures in force:
You could see a premium increase if your business changes to remote work or goes online since that change increases the risk for your insurer. For example, your risk could increase if your business is storing more data or sensitive information on computers than before.
But you might not see an increase if your core operations have stayed the same. Your industry and amount of coverage are other factors that influence your premium.
While cyber insurance protects your business, even if you’re just starting to work from home, consider some important points:
Cyber insurance doesn’t change much during the coronavirus, except that hackers may try new tactics exploiting fear of the coronavirus. Shop around for business insurance quotes that offer the right cyber coverage during and after the coronavirus.
You can now calculate your payroll expenses based on gross income instead of net profit. Here’s how it works.
Here’s where to get financial help for yourself and your business if you’ve been affected by the storm in February 2021.
Transform your home without leaving insurance gaps while your home’s under construction.
Learn which states are making it easier for you to get workers compensation if you get sick from the coronavirus and which jobs qualify.
Plus, 2 you can’t.
You only have until the end of March to get your next application in.
Learn how insurance companies use identifying info from your VIN to set rates.
Grants of up to $10 million for businesses that rely on ticket sales.
You might be able to apply for more funding on your PPP loan, get a second PPP loan or take advantage of a new grant program.
Getting a policy can be complicated, but it offers protection for you and your employees.
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.