Cyber Insurance


Cyber insurance provides financial safeguards for businesses against modern digital risks like data breaches, hacking incidents, and malicious cyber attacks targeting computer systems and networks.

Cyber-attacks are the fastest-growing threat to modern businesses, with billions of attempts by hackers every year. As organisations rely on IT systems to manage most, if not all, of their critical business systems, our insurance policies adequately protect your IT infrastructure against loss or damage as a result of a successful hack.

Our policies are aimed at two distinct market sectors: innovative and bespoke solutions for global/multi-national entities; and comprehensive, turnkey solutions for retail brokers, insurers and managing general underwriters. With direct access to the underwriters, your core business operations and threats to them can be properly addressed in the resulting solution.

The Canopius Cyber Team comprises nearly 40 specialist and dedicated in-house Cyber professionals who work collaboratively to ensure holistic strength in risk assessment and management, building the perfect insurance solution for your business.

Using Scattered Spider to Understand Future Threats

Our Threat Intelligence capability stands at the forefront of cyber risk management, powered by expert analysts and the latest technology. Built upon the rich data collected by our dedicated Cyber Incident Management Team, supplemented by premium threat intelligence feeds and platforms, we offer a unique and comprehensive view of the cyber threat landscape.

We produce reports and webinars for our clients as part of our proactive cyber services. Our Cyber Team shares how it can support you in predicting future risks for your business with an example of Scattered Spider; if you’d like a copy of this report, please enter your details below and we will email you a link to download it.


What we do

We insure businesses across the spectrum, in respect of their cyber exposure, for up to $25 million (USD) per risk in aggregate and $25 million (USD) for delegated authorities and binders.
Our portfolio comprises:

  • Full 1st and 3rd party cyber coverage
  • Non-physical business interruption damage
  • Remediation costs, including any fines and penalties
  • Network security liability
  • Breaches of privacy liability, including data breaches
  • Technology errors and omissions
  • Social engineering coverage
  • Physical damage caused by cyberattacks

There is a broad appetite for industry sectors, which includes, but is not limited to, the following: technology, retail, healthcare, financial institutions, manufacturing, utilities and aviation. Policies are available world-wide on either an insurance or reinsurance basis, where licensing permits.

What sets us apart

  • We believe in being fair and honest; our pricing is competitive and based on analytical data and insight.
  • We are solution-focussed; this means we are here to work with you to find the right solution. Each business is different and our underwriting is not based on tick boxes. We write policies for your business and thrive on complex and unique risks.
  • We offer a Threat Intelligence consultancy service, giving you a holistic approach to your cyber insurance needs.
  • Our in-house Cyber Incident Response Team responds in under two hours, giving you 24-hour round-the-clock care. They are highly trained in crisis management and will be able to triage expert service providers from our panel which includes forensics, legal services, public relations, and ransom negotiators.
  • We are able to provide initial claims assessments within five working days.
  • Each claim has a dedicated Canopius Claims Adjuster assigned to your incident to work with you to resolution.
  • Our team is in-house and solely allocated to Cyber, strengthening our knowledge and expertise, ultimately ensuring you have the best resources when you need them the most.


What Level of Cyber Insurance Do I Need?
At Canopius, we offer Cyber Risk Insurance coverage that can cover businesses for up to $25 million (USD) per risk. The level of Cyber Insurance you need depends on several factors, including the size of your business, the nature of your data, your industry sector, and the potential risks you face. We cater to a broad range of industries, and our underwriting process is tailored to your specific business needs, ensuring you get the right level of cyber protection.

Is Cyber Insurance Expensive?
At Canopius, we believe in fair and honest pricing. The cost of Cyber Risk Insurance coverage varies based on the level of coverage you choose, the nature of your business, and the specific risks involved. Our pricing is competitive and based on analytical data and insight. We work with you to find a cyber protection solution that fits your budget while providing the necessary coverage.