Business cover · Cyber
How to Choose Cyber Insurance: Questions to Ask Any Broker
Two cyber policies can look identical on a slide and behave completely differently on the day you claim. The skill isn't comparing prices — it's judging cover.
A cyber policy is only as good as the claim it pays — so judge it by how it behaves on your worst day, not its best slide.
Price is the easiest thing to compare and the least useful. Here's the scorecard I wish every buyer ran a quote through first.
The short version
- Judge the cover and the claims service, not the brochure or the price.
- Criteria that matter: coverage depth, the social-engineering sub-limit, the retroactive date, supply-chain cover, and how claims are handled.
- Ask whether you need a standalone policy or cover bundled with D&O or general liability.
- A policy is only as good as the claim it pays.
Judge the cover, not the brochure
What decides whether a policy helps is its wording and its claims service — and those don't show up in a premium figure.
Start from the worst day and work backwards: when an incident hits, what does this policy actually do, who do you call, and what's not covered?
The criteria that matter
Run any policy past these checks before you commit — insurer-agnostic, so they work on any quote from any broker.
| Criterion | What to confirm |
|---|---|
| First- and third-party depth | Both present, with limits that fit your real exposure. |
| Social-engineering / funds-transfer fraud | Covered or sub-limited? At what level? Add-on needed? |
| Retroactive date / prior acts | Are incidents that began before the policy covered? |
| Supply-chain / vendor cover | Does it respond to incidents at a vendor you rely on? |
| Ransomware | Response, restoration and — where lawful — ransom. |
| Claims service | A single, dependable point of contact; 24×7 reachability. |
| Panel-vendor restrictions | Must you use the insurer's responders to be reimbursed? |
| Standalone vs bundled | Is cyber better standalone, or rolled into D&O / CGL for you? |
The questions to ask the broker
The criteria tell you what to check; these questions tell you who you're dealing with.
Ask which cyber risks are biggest for your business specifically; how they'll structure cover to match, rather than selling a standard package; and exactly who handles a claim and how fast your team reaches a real person. This is the same test we set for judging any broker — the six parameters for choosing a broker — applied to cyber.
Red flags
Be wary of a quote with no real questions about your data, a policy silent on social-engineering fraud, a generic call-centre claims process, or a broker who can't tell you what isn't covered.
Silence on exclusions isn't simplicity — it's the part you'll discover later.
Frequently asked questions
What should I look for when choosing cyber insurance?
Coverage depth (first and third party), the social-engineering sub-limit, the retroactive date, supply-chain cover and the claims service — not just the premium.
Should I buy standalone cyber cover or bundle it?
It depends on your risk. Some businesses are better served by a standalone policy; others by cyber rolled into D&O or general liability. A broker should explain which fits you and why.
What questions should I ask a broker?
Which risks are biggest for my business specifically, how they'll structure cover to match, and exactly who handles a claim and how fast my team reaches them.
How do I compare two policies fairly?
Compare wordings and claims service, not prices. Line up exclusions and sub-limits side by side; the cheaper policy is often the one that pays less.
What happens when you talk to us
A 20-minute video call with a Growth Advisor — no obligation, and no quote pushed. It opens with a five-minute video from our founder on how the benefits stack works and why Ethika exists; the rest is your questions. You'll leave with an honest read on your current cover and claims experience, and a straight answer on whether we can genuinely help — even if you never become a client.
20 minutes with a Growth Advisor. No obligation.
A note on this page. Everything here is general information, not insurance, legal, financial or tax advice, and nothing is an offer. For advice about your situation, talk to us.