Cyber
The most common small-business cyber loss is a wire transfer nobody hacked.
Social engineering is the coverage that pays
Funds-transfer fraud induced by a spoofed email is the loss small businesses actually suffer, and it is excluded or sublimited on many forms. We show which markets grant it at full limit.
MFA is the underwriting question
Multi-factor authentication on email and remote access moves your premium more than any other answer on the application, and above roughly $5M in revenue most markets will not quote without it.
Ransomware sublimits
A $1M cyber policy with a $100,000 extortion sublimit is a $100,000 ransomware policy. We put the sublimit in the comparison, not the footnote.
The exclusions we read for in this line
| Exclusion | Severity | What it means |
|---|---|---|
| Social engineering / funds transfer fraud excluded | critical | The most common small-business cyber loss is a wire induced by a spoofed email. Crime forms often exclude it. |
| Non-admitted: no state guaranty fund | material | If the carrier becomes insolvent, the state guaranty association does not pay the claim. |
| War / state-backed cyber operation excluded | material | Attribution clauses can void a ransomware claim. |
The market archetypes we shop in this line
IronKey does not publish carrier names it is not appointed with. These are the program archetypes the exchange shops. When an appointment is executed, the carrier's name and rating appear here.
| Program | Type | A.M. Best | Bind | Note |
|---|---|---|---|---|
| Cyber Program A (broad form) Cyber - full tower |
admitted | A+ (Superior) | same day | Social engineering at full limit. This is the coverage that actually pays. |
| Cyber Program B (core form) Cyber - core |
admitted | A (Excellent) | instant | |
| Cyber Program C (E&S, distressed) Cyber - E&S |
non admitted | A- (Excellent) | refer | For no-MFA or prior-incident risks. Quoted with a written controls remediation plan attached to the file. |
Insurance offered through licensed agents. IronKey Care is an independent insurance agency, not an insurer. Availability and eligibility vary by state.