https://completemarkets.com/company/risco/cyber-liability-insurance/
Cyber Liability Insurance
RISCO Insurance Brokerage Inc. offers a Cyber Liability Insurance program designed for independent agents and brokers who need reliable markets and flexible coverage for clients facing digital exposures. Data breaches and privacy incidents are common — this program helps your clients manage the costs of incident response, regulatory exposures, and reputational damage while giving you market access through an experienced MGA and E&S broker.
Overview of the Program from RISCO Insurance Brokerage Inc.
This program provides tailored cyber and privacy protection for small and mid-size businesses across multiple industries. RISCO places coverage with various admitted and surplus markets, offering solutions that combine first-party incident response with third-party liability defense for privacy and network security claims. Coverage can include notification and monitoring, forensic and legal services, regulatory defense, and public relations support.
Ideal Accounts and Appetite
This program is a good fit for agents with clients who need practical cyber protection but do not require large, enterprise-level limits. Typical target classes include:
Medical and dental practices, behavioral health and small healthcare providers
Retail and restaurants (including PCI exposures)
Professional services — accountants, consultants, lawyers
Technology and software firms, managed service providers (select accounts)
Nonprofits, real estate firms, and small financial services firms
Accounts that have reasonable security controls, written privacy policies, and no recent unresolved breaches usually place most smoothly. High-frequency breach histories, unmanaged legacy systems, or certain highly regulated/complex cyber operations may require referral or higher limits through specialty markets.
Coverage Highlights and Advantages
The program includes the core cyber coverages agents expect, with options to tailor limits and services:
Notifications costs and credit/identity monitoring
Information Security & Privacy Liability
Regulatory defense and penalties (where insurable)
Website and media content liability
Crisis management and public relations expenses
PCI fines and related costs
Computer forensics and incident response
Cyber extortion/ransomware coverage
RISCO’s placement advantage is access to multiple markets and flexible terms for admitted and E&S capacity, enabling competitive quotes and tailored endorsements for common SME exposures.
Underwriting Notes and Minimum Premiums
Underwriting focuses on the applicant’s data security practices, incident history, and the sensitivity of data handled. Typical submission requirements include an application with security controls, recent breach history, and details on data types stored or processed. Minimum premium: $750. Because markets differ in appetite and form, RISCO will route submissions to the most appropriate admitted or E&S carrier depending on exposure and state requirements.
Territories and Availability
This program is available in CT, FL, ME, MA, NH, NY, RI and VT. RISCO works with multiple carriers and markets to place business in the most suitable admitted or surplus lines paper based on the insured’s location and risk profile.
Why Work With RISCO Insurance Brokerage Inc. on Cyber Liability
As a Managing General Agency and Excess & Surplus Lines broker, RISCO combines underwriting expertise with wide market access. You benefit from:
Access to various admitted and E&S carriers for competitive placement
Experienced cyber underwriting that understands SME exposures
Flexible coverage modules and incident response options that agents can present to clients
Practical guidance on submission preparation to improve placement speed
Example scenarios:
You have a retail client that accepts card payments and wants protection for PCI fines, notification costs, and forensic services after a breach — this program can provide tailored limits and monitoring services.
You represent a small medical practice that stores patient records and needs coverage for HIPAA-related defense costs, breach notifications, and post-breach PR — this program targets those exposures with appropriate endorsements.
Submit with a completed application, description of security controls, and any prior incident history to help RISCO place the account efficiently.
Frequently Asked Questions
What types of accounts are a good fit for this program?Small-to-mid-size businesses across healthcare, retail, professional services, technology, nonprofits and similar classes. The program targets organizations with documented security controls and manageable breach histories.
Is this coverage available on admitted paper or only surplus lines?RISCO places business with various carriers and can access admitted or excess & surplus markets as appropriate. Market availability will depend on the insured’s state, exposure and limits requested.
What is the minimum premium and typical submission requirements?The program has a minimum premium of $750. Typical submissions should include a completed cyber application, description of security controls (firewalls, MFA, backups), and any prior breach/incident history.
What should I expect after a reported incident?Policies usually provide access to forensic investigators, breach notification support, credit/identity monitoring providers and public relations services. Exact services depend on the carrier and endorsements placed for the account.
Need help placing an account? Connect with a market specialist.