Cyber Insurance Carrier Comparison
Compare 20+ carriers • Updated January 2025
Quick Comparison: Top Carriers for Small Business
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Carrier Profiles
Digital-First Insurers (Best for Small Business)
Next Insurance
Best for: Small businesses under $5M revenue seeking quick, affordable coverage
$500/year
$100K - $2M
Instant online
70+ supported
Strengths: Fastest quotes in the market, competitive pricing, user-friendly portal, certificate issuance in minutes. Weaknesses: Lower limits may not suit growing businesses, less customization than traditional carriers.
Get Quote →Embroker
Best for: Tech companies, startups, and businesses needing E&O + Cyber bundles
$1,000/year
$1M - $10M
Same day
Tech, SaaS, Startups
Strengths: Deep tech industry expertise, excellent E&O bundling, strong coverage for SaaS and software companies, good claims reputation. Weaknesses: Higher minimums than some competitors, more complex application process.
Get Quote →Coalition
Best for: Businesses wanting active security monitoring alongside insurance
$750/year
$50K - $15M
1-2 days
Free security tools
Strengths: Active risk monitoring, free security scanning, alerts for vulnerabilities, excellent claims experience, competitive pricing for good risks. Weaknesses: Requires security scan during underwriting (may surface issues).
Traditional Carriers (Higher Limits Available)
Chubb
Best for: Mid-market and enterprise companies needing $5M+ limits
$5,000/year
$1M - $100M+
1-2 weeks
Enterprise, Complex
Strengths: Highest limits available, A++ rated, excellent claims handling, comprehensive coverage forms, strong balance sheet. Weaknesses: Higher premiums, longer underwriting process, less suitable for small businesses.
AIG
Best for: Large enterprises and businesses with complex international exposures
$10,000/year
$5M - $500M+
2-4 weeks
Global Enterprise
Strengths: Global coverage capabilities, very high limits, strong incident response network, CyberEdge product well-established. Weaknesses: Complex application, not competitive for small business, longer response times.
Travelers
Best for: Businesses bundling cyber with other commercial lines
$1,200/year
$1M - $25M
3-5 days
Package policies
Strengths: Strong bundling discounts (10-15%), established carrier reputation, good claims handling, free risk management resources. Weaknesses: Standalone cyber pricing less competitive, traditional underwriting approach.
Carrier Selection by Industry
| Industry | Recommended Carriers | Why |
|---|---|---|
| Healthcare | Coalition, Beazley, Chubb | HIPAA expertise, regulatory coverage |
| Technology/SaaS | Embroker, Coalition, At-Bay | Tech E&O integration, startup-friendly |
| Professional Services | Hiscox, Next Insurance | Professional liability bundles |
| Retail/E-commerce | Next Insurance, CoverWallet | PCI coverage, quick quotes |
| Manufacturing | Travelers, Hartford | OT coverage, established relationships |
| Financial Services | Chubb, AIG, Beazley | High limits, regulatory expertise |
| Non-Profit | Hiscox, Next Insurance | Budget-friendly options |
Carrier Selection by Company Size
| Revenue | Best Options | Typical Premium |
|---|---|---|
| Under $1M | Next, Hiscox, CoverWallet | $500 - $1,500/yr |
| $1M - $5M | Embroker, Coalition, Next | $1,200 - $3,500/yr |
| $5M - $25M | Coalition, Corvus, Travelers | $3,000 - $15,000/yr |
| $25M - $100M | Chubb, AIG, Beazley | $15,000 - $75,000/yr |
| $100M+ | AIG, Chubb, Zurich | $50,000+/yr |
How to Choose the Right Carrier
1. Match Your Size and Industry
Start with carriers that specialize in businesses like yours. A healthcare practice shouldn’t use the same carrier as a construction company.
2. Compare Coverage, Not Just Price
The cheapest quote often has the lowest sublimits and most exclusions. Compare:
- Ransomware sublimits
- Social engineering coverage
- Business interruption waiting periods
- Defense cost treatment (inside vs. outside limits)
3. Check Claims Reputation
Research how carriers handle claims. Key questions:
- Do they have 24/7 claims hotline?
- What’s their panel vendor network?
- Can you choose your own counsel/forensics?
4. Consider the Relationship
Will you work directly with the carrier or through a broker? Digital carriers offer self-service; traditional carriers typically require broker relationships.
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Carrier information current as of January 2025. Ratings and features may change. Always verify current offerings directly with carriers.