Technology drives today's businesses, but it also creates new exposures. Great American Insurance Group provides cyber risk insurance solutions designed to help organizations protect against cyber events, data breaches, ransomware attacks and other technology-related risks.
For more than 15 years, our Cyber Risk team has helped businesses navigate an evolving cyber threat landscape with clear, comprehensive coverage, dedicated claims expertise and proactive risk management resources. Our cyber liability insurance solutions are built to serve a broad range of organizations, including Main Street America and midsized businesses with up to $1 billion in revenue, as well as public entities.
What Is Cyber Risk Insurance and Why Is It Important?
Cyber risk insurance, also referred to as cyber liability or cybersecurity insurance, helps protect businesses from the potential financial impact of cyber incidents.
As organizations become more dependent on technology, cyber threats continue to evolve. A cyber event can disrupt operations, expose sensitive information, damage customer trust and result in significant financial losses.
Cyber risk insurance can help organizations:
- Respond to data breaches and privacy incidents
- Recover from ransomware and cyber extortion events
- Manage business interruption losses
- Address regulatory obligations and notification requirements
- Access expert incident response resources before, during and after a cyber event
Whether a business stores customer information, accepts online payments or uses a third-party vendor, cyber risk is a growing concern that should not be overlooked.
Who Needs Cyber Risk Insurance?
Any organization that uses technology or stores sensitive information may benefit from cyber risk insurance.
Great American serves a wide range of organizations, including:
- Small and mid-sized businesses (up to $1 billion in revenue)
- Manufacturers
- Professional service firms
- Retail and hospitality businesses
- Healthcare organizations
- Financial institutions
- Public entities and governmental organizations
- Technology-focused companies
What Types of Cyber Risks Can Businesses Face?
Cyber threats can take many forms and continue to evolve.
Common cyber risks include:
- Ransomware attacks
- Data breaches
- Social engineering and funds transfer fraud
- Business email compromise
- Network security incidents
- Privacy violations
- System outages and business interruption
- Third-party vendor and supply chain exposures
Even a single cyber incident can create operational disruptions, financial loss and reputational damage.
What Cyber Risk Insurance Solutions Does Great American Offer?
Great American's cyber insurance solutions are designed to provide comprehensive protection for organizations facing cyber threats.
Our Cyber Risk products can help address:
- Data breaches and privacy incidents
- Ransomware and cyber extortion events
- Business interruption losses
- Network security incidents
- Third-party liability exposures
- Incident response and recovery expenses
- Data restoration and system recovery costs
Great American's cyber risk insurance solutions help businesses manage the financial and operational impact of cyber events, including data breaches, ransomware attacks, network security incidents and other technology-related risks.
Our hallmark product, Risk-e Business®, provides businesses with clear, comprehensive cyber insurance coverage. The product offers comprehensive first- and third-party cyber risk protection and flexible surplus lines coverage with limits up to $5 million for organizations with revenues up to $1 billion.
For businesses with annual revenue under $25 million working with retail agents, Risk-e Business® is administered by ABA Insurance Services, delivering the same trusted coverage supported by the expertise of its small business team.
All insureds are backed by Great American's dedicated in-house Claims team and proactive loss control services, helping organizations navigate cyber threats before, during and after an incident.
Why Choose Great American for Cyber Risk Insurance?
Cyber insurance should be supported by experience, expertise and responsive service.
Great American offers:
- More than 15 years of dedicated cyber underwriting experience
- Clear and comprehensive coverage solutions
- In-house claims expertise
- Access to incident response resources
- Proactive risk management and loss control tools
- Consistent underwriting philosophy
- Financial strength and long-term stability
Our goal is to help organizations prepare for cyber threats before they occur and respond confidently if an incident happens.
How Can Businesses Better Understand Their Cyber Exposures?
Cyber risks are often hidden within everyday business operations.
Our Riskopolis Series helps agents and insureds identify common cyber exposures through interactive, real-world scenarios that demonstrate how cyber incidents can affect organizations and where cyber insurance coverage may help.
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