Glossary
Cyberassurance
An insurance policy covering all or part of the costs related to a cyber incident: remediation, business interruption, ransom, legal fees.
The cyber-insurance market hardened significantly between 2020 and 2024. Insurers now require SMBs to submit a substantial dossier before issuing a policy: 2FA across the board, tested 3-2-1 backup, incident-response plan, team training, endpoint detection. Without these, either the policy is declined or the premium is multiplied.
A properly placed cyber policy covers: technical remediation costs, business interruption, possible ransom payments (under conditions), legal and regulatory notification fees, and third-party indemnities. SMB limits range from €250,000 to €5M, with annual premiums between €2,000 and €30,000.
The evidence brokers ask for matches almost exactly the deliverables of Essentials. That's one of the reasons several students report a premium reduction after sending the certificate and the emergency plan to their broker.