What is cyber insurance?
It is insurance that covers costs that arise when the company is hit by adata breach, an attack or a serious IT breakdown. Think of it as home insurance - but for digital accidents instead of water leaks. It doesn't solve security for you, but it does cushion the financial fallout when something does go wrong.
What does it cover – and what doesn't it?
It varies between companies, but cyber insurance often covers:
Crisis assistance and IT expertswhich helps you stop and investigate the breach.
Downtime.Compensation for income you lose when the systems are down.
Recoveryof data and systems.
Law and notifications- help with GDPR notification, communication and any requirements.
Damagesto third parties whose information was leaked.
Sometimescosts linked to extortion/ransomware.
It covers normallynotdamages due to your neglecting basic safety, fines you earned yourself through gross negligence, or breaches you knew about but did not remedy. Always read the fine print.
Does my business really need one?
Ask yourself three questions:
Do you handle customer data or personal data?The more sensitive the data, the greater the risk and consequence.
What happens if the systems are down for a week?Should it cost you dearly - speak for insurance.
Can you afford to bear the cost of a breach yourself?Crisis assistance, downtime and legal fees add up quickly to a lot of money.
For many small and medium-sized businesses, the answer is that insurance is wise – but it should be seen as onecomplement to good security, never a substitutefor it.
What does the insurance company demand in 2026?
This is the most important part, and the one many miss. As infringements have increased, the companies have tightened the requirements. To draw - and above all toreceive compensation- you usually need to be able to show that you have:
Two-factor authentication (2FA)on important accounts and remote access.
Secure, tested backups- preferably separated from regular systems so ransomware doesn't reach them.
Updated systemswith security updates installed.
Basic protectionsuch as firewall and protection against malware.
Trained staffthat recognize phishing.
Procedures for access- that the right people have the right authority, and that terminated employees are suspended.
If this is missing in the event of an injury, the company can reduce or deny compensation - even if you have paid the premium for years. Security is therefore a prerequisite for the insurance to be worth something.
Cyber insurance without basic protection is like fire insurance on a house without smoke alarms - it may not apply when there is a fire.
How do I prepare the company?
Do a current status check.What do you already have in place, and where are the gaps?
Cover the basic coverbefore you sign - then the terms will be better and the compensation more secure.
Document your routines.The company wants to see that the protection exists for real, not just on paper.
Compare conditions, not just price.What is actually covered and what requirements are made are more important than the premium.
Do you want to know if you meet the requirements?
This is where ZORC helps. ViaSwedish Cyber Securitywe do a security review that shows where you stand against the requirements set by the insurance companies - and what needs to be fixed. Then you know that the insurance actually applies on the day you need it, and that the basic protection lasts even without it.Contact ZORC for an overview of your current situation.
