--- title: What is Cyber Insurance and How to Lower your Cyber Insurance Premiums description: Cyber insurance premiums are rising and improved cybersecurity can help. Learn about the cyber insurance market and read more in our guide to cyber insurance. image: https://marketing.pinecc.com/hubfs/Untitled-1-4.png --- - [MT Cybersecurity Report](http://www.pinecc.com/montana-cyber-security-report) - [Technology News & Blog](https://marketing.pinecc.com/blog) - [Partners](http://www.pinecc.com/partners) - [Careers](http://www.pinecc.com/pine-cove-careers) [![Pine Cove Consulting](https://marketing.pinecc.com/hs-fs/hubfs/Website/pcc_logo_lrg_color_transparent.png?width=576&height=288&name=pcc_logo_lrg_color_transparent.png "Pine Cove Consulting")](http://www.pinecc.com) - Solutions - [Cybersecurity](http://www.pinecc.com/cyber-security) - [Infrastructure](http://www.pinecc.com/infrastructure) - [Communication](http://www.pinecc.com/communication) - [Physical Security](http://www.pinecc.com/physicalsecurity) - [Student Safety](http://www.pinecc.com/student-safety) - [User Security](http://www.pinecc.com/user-security) - IT Services - [Budgeting/Sustainability Planning](http://www.pinecc.com/budgeting) - [Support Services](http://www.pinecc.com/support) - About Us - [History](http://www.pinecc.com/about) - [Our Team](http://www.pinecc.com/team) - [Community Involvement](http://www.pinecc.com/community) - [Case Studies](http://www.pinecc.com/casestudies) [![Contact Us](https://hubspot-no-cache-na2-prod.s3.amazonaws.com/cta/default/164718/216a4af8-6258-4cec-943b-457d7f5f275e.png)](https://hubspot-cta-redirect-na2-prod.s3.amazonaws.com/cta/redirect/164718/216a4af8-6258-4cec-943b-457d7f5f275e) # What is Cyber Insurance and How to Lower your Cyber Insurance Premiums [![Jace Holyoak](https://marketing.pinecc.com/hubfs/Website/Team/Cartoons/PCC_06-JaceHolyoak_HQ.jpg) Jace Holyoak](https://marketing.pinecc.com/blog/author/jace-holyoak) ![Topic](https://cdn2.hubspot.net/hubfs/685080/HubSpot_Template_Marketplace/Cobalt%20Modular/icons/co-topic.svg) [Cybersecurity](https://marketing.pinecc.com/blog/topic/cybersecurity) ![Date Published](https://cdn2.hubspot.net/hubfs/685080/HubSpot_Template_Marketplace/Cobalt%20Modular/icons/co-calendar.svg) Sep 17, 2021 11:33:26 AM ![Reading Time](https://cdn2.hubspot.net/hubfs/685080/reading-time.svg) Reading Time: 1 min Share: [ ](https://www.facebook.com/share.php?u=https://marketing.pinecc.com/blog/what-is-cyber-insurance-and-how-to-lower-your-cyber-insurance-premiums) [ ](https://www.linkedin.com/shareArticle?mini=true&url=https://marketing.pinecc.com/blog/what-is-cyber-insurance-and-how-to-lower-your-cyber-insurance-premiums) [ ](https://twitter.com/intent/tweet?original_referer=https://marketing.pinecc.com/blog/what-is-cyber-insurance-and-how-to-lower-your-cyber-insurance-premiums&url=https://marketing.pinecc.com/blog/what-is-cyber-insurance-and-how-to-lower-your-cyber-insurance-premiums&source=tweetbutton&text=What%20is%20Cyber%20Insurance%20and%20How%20to%20Lower%20your%20Cyber%20Insurance%20Premiums) ![Cyber Insurance](https://marketing.pinecc.com/hubfs/Untitled-1-4.png) Cyber insurance, also known as cyber risk insurance or cyber liability insurance, is designed to protect firms from the impact resulting from cybercrime. The cyber insurance market is rapidly changing as threats evolve, which has caused significant fluctuations in premiums in recent years. Cyber insurance covers the costs resulting from cyberattacks. Protection can vary, but typically includes coverage of the following:  - Forensic analysis to identify the attack source - Ransom demands and specialists to handle ransom negotiations - Costs to regain access or restore your data from backups or other sources - Legal costs - Public relations services - Notification of clients and/or regulatory bodies - Credit monitoring services for affected individuals ## Why Have Cyber Insurance? Cyber attacks cripple organizations every year. [One in five small businesses fall to a cyber attack and of those, 60 percent go out of business in six months.](https://www.vox.com/sponsored/11196054/why-every-small-business-should-care-about-cyber-attacks-in-5-charts)There are three main benefits of having cyber insurance: 1. **Financial-** The insurance covers costs in the event of a cyber incident. 2. **Operational-** The insurance team provides immediate access to experts, including IT forensic specialists, privacy lawyers and PR pros. 3. **Peace of Mind- **Having cyber insurance gives confidence to your customers, partners, suppliers and employees ## How Cybersecurity Can Reduce Premiums There is a relationship between cybersecurity and cyber insurance costs. Having a strong cybersecurity posture can reduce your premiums. It works the same as home insurance. If you have stronger home security measures in place, your home insurance premiums can decrease. While cyber insurers don't publicly reveal their calculation for premium costs, customers consistently say that their premiums decrease as they invest in cybersecurity measures. [We invite you to read more about our cybersecurity products and services by clicking here.](https://www.pinecc.com/cyber-security) If you are interested in a deeper dive into cyber insurance, we invite you to view Sophos' Guide to Cyber Insurance by clicking the button below. [![Sophos Guide to Cyber Insurance](https://hubspot-no-cache-na2-prod.s3.amazonaws.com/cta/default/164718/5d4df9e3-2a07-4beb-a32b-3e0810a1c937.png)](https://hubspot-cta-redirect-na2-prod.s3.amazonaws.com/cta/redirect/164718/5d4df9e3-2a07-4beb-a32b-3e0810a1c937) [Next 2021 Summer Projects- Adapt and Overcome](https://marketing.pinecc.com/blog/2021-summer-projects-adapt-and-overcome) [BLOG](https://marketing.pinecc.com/blog) [Previous Introducing The Cybersecurity Gap Analysis](https://marketing.pinecc.com/blog/introducing-the-cybersecurity-gap-analysis) ### **You may also be Interested in the Following Blogs:** 6 November, 2024 ![author](https://cdn2.hubspot.net/hubfs/685080/author.png) [Eddie the Sasquatch](https://marketing.pinecc.com/blog/author/eddie-the-sasquatch) ##### [Our 5-Step Process](https://marketing.pinecc.com/blog/5-step-process) Pine Cove Consulting’s 5-step process ensures seamless Wi-Fi for institutions by optimizing performance, reliability, and long-term support. Through a strategic partnership with RUCKUS Networks, Pine Cove analyzed, designed, deployed, and continues to support... [Read more](https://marketing.pinecc.com/blog/5-step-process) 24 October, 2024 ![author](https://cdn2.hubspot.net/hubfs/685080/author.png) [Eddie the Sasquatch](https://marketing.pinecc.com/blog/author/eddie-the-sasquatch) ##### [Highlights from Verkada One 2024](https://marketing.pinecc.com/blog/highlights-from-verkada-one-2024) In October 2024, Denver was buzzing with the latest in physical security at the highly anticipated [Verkada One Conference](https://www.verkada.com/blog/announcing-verkadaone-2024/). This three-day event attracted over 1,600 attendees, including industry leaders, technology innovators, and key partners. Verkada didn’t... [Read more](https://marketing.pinecc.com/blog/highlights-from-verkada-one-2024) 16 October, 2024 ![author](https://cdn2.hubspot.net/hubfs/685080/author.png) [Eddie the Sasquatch](https://marketing.pinecc.com/blog/author/eddie-the-sasquatch) ![topic](https://cdn2.hubspot.net/hubfs/685080/topic.png) [Newsletter](https://marketing.pinecc.com/blog/topic/newsletter) ##### [Trail Report: It's Cybersecurity Awareness Month!](https://marketing.pinecc.com/blog/october-2024-trail-report) Welcome IT dwellers, it’s October and I’m here to tell you what’s new in the IT sphere. Here’s what’s been on my mind lately: - MFA - CISO job security concerns - Biometric access control [Read more](https://marketing.pinecc.com/blog/october-2024-trail-report) ## Follow Pine Cove On Social Media For news, satire, and information. [ ](https://www.facebook.com/Pinecoveconsulting) [ ](https://www.linkedin.com/company/pinecoveconsulting/) [ ](https://twitter.com/PINECC) [ ](https://www.youtube.com/user/Pinecoveconsulting) ![Screenshot 2023-02-16 at 1.11.58 PM](https://marketing.pinecc.com/hs-fs/hubfs/Screenshot%202023-02-16%20at%201.11.58%20PM.png?width=103&height=175&name=Screenshot%202023-02-16%20at%201.11.58%20PM.png "Screenshot 2023-02-16 at 1.11.58 PM") ![2022 VERKADA](https://marketing.pinecc.com/hs-fs/hubfs/2022%20VERKADA.png?width=500&height=500&name=2022%20VERKADA.png "2022 VERKADA") ![2022 MSP 500](https://marketing.pinecc.com/hubfs/2022%20MSP%20500.png "2022 MSP 500") ![2022 CRN 100](https://marketing.pinecc.com/hubfs/2022%20CRN%20100.png "2022 CRN 100") ![2021 SOPHOS PARTNER](https://marketing.pinecc.com/hubfs/2021%20SOPHOS%20PARTNER.png "2021 SOPHOS PARTNER") ![2021 CRN MSP](https://marketing.pinecc.com/hubfs/2021%20CRN%20MSP.png "2021 CRN MSP") **Products** --- - [Cyber Security](http://www.pinecc.com/cyber-security) - [Physical Security](http://www.pinecc.com/physicalsecurity) - [Network Infrastructure](http://www.pinecc.com/infrastructure) - [Communication](http://www.pinecc.com/communication) - [User Security](http://www.pinecc.com/user-security) - [Student Safety](http://www.pinecc.com/student-safety) **Services** --- - [Support Services](http://www.pinecc.com/support) - [IT Budgeting](http://www.pinecc.com/budgeting) **About Us** --- - [Contact Us](http://www.pinecc.com/contact) - [About Us](http://www.pinecc.com/about) - [Community Involvement](http://www.pinecc.com/community) - [Technology Leadership Program](http://www.pinecc.com/scholarship) - [Tech News & Blog](https://marketing.pinecc.com/blog) - [FAQ](http://www.pinecc.com/faq) - [Careers](http://www.pinecc.com/pine-cove-careers) Copyright © [Pine Cove Consulting](http://www.pinecc.com/) [](https://www.linkedin.com/company/pinecoveconsulting) [](https://www.facebook.com/Pinecoveconsulting) [](https://twitter.com/PINECC) [](https://www.youtube.com/user/Pinecoveconsulting) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Jace Holyoak", "url" : "https://marketing.pinecc.com/blog/author/jace-holyoak" }, "dateModified" : "2021-09-17T17:36:28.787Z", "datePublished" : "2021-09-17T17:33:26.000Z", "headline" : "What is Cyber Insurance and How to Lower your Cyber Insurance Premiums", "image" : [ "https://marketing.pinecc.com/hubfs/Untitled-1-4.png" ], "mainEntityOfPage" : { "@id" : "https://marketing.pinecc.com/blog/what-is-cyber-insurance-and-how-to-lower-your-cyber-insurance-premiums", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://marketing.pinecc.com/hubfs/Website/pcc_logo_lrg_color_transparent.png" }, "name" : "Pine Cove Consulting" } } ```