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Home / Glossary / Cyber insurance
Glossary · Management

Cyber insurance

In plain language

Insurance that helps pay the costs of a cyberattack, such as recovery, legal advice and lost income.

The metaphor

Like fire insurance for your data: you hope never to claim, and the insurer checks your smoke alarms before it signs.

Going deeper

How it works

  • Covers costs such as investigation, restoration, notifying clients and business interruption, depending on the policy.
  • Insurers ask about MFA, backups, patching and training before they quote.
  • Wrong answers on the form can sink a claim.
  • Read what is excluded.

How WILDCARD handles it

A vCIO review can map your security setup against an insurer's questionnaire and a plan to close gaps. MFA, backups, patching and training are covered by Identity Monitor, Unified Backups, Patch Management and Phishing Training.

In practice
  • A dental office is asked to prove MFA on email.
  • A law firm renews and finds the form now asks about backups.
  • A retailer learns its policy excludes payment-fraud losses.

A question owners ask

Will cyber insurance cover a ransomware payment? It depends on the policy and the circumstances. Ask your broker in writing.

Where WILDCARD handles this
✨
vCIO
  • Fractional CIO on retainer
  • Moonlight, Sunlight, Starlight tiers
  • Credits for single outputs
Start with vCIO
Identity
Monitor
  • 24/7 identity monitoring
  • Every alert investigated
  • Compromised logins shut down
Start with Identity MonitorMeet Identity Monitor →
Unified
Backups
  • Cloud and device backups
  • One bundled price
  • Unlimited restores
Start with Unified BackupsMeet Unified Backups →
Patch
Management
  • Windows, Office, Chrome patched
  • Automatic, on schedule
  • Open doors closed
Start with Patch ManagementMeet Patch Management →
Phishing
Training
  • Monthly phishing simulations
  • Quarterly self-paced training
  • Monthly reporting
Start with Phishing TrainingMeet Phishing Training →
Related terms
Account takeoverAIArtificial IntelligenceALEAnnualized Loss ExpectancyAPTAdvanced Persistent ThreatAROAnnualized Rate of OccurrenceASLRAddress Space Layout RandomizationAUPAcceptable Use PolicyBackup

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