Cyber Insurance Consulting

Cyber Insurance Consulting

Helping you meet your insurer’s expectations

Insurance helps a business like yours manage your exposure by providing financial payments to cover potential losses that you may not be able to afford if they should occur. This allows you to continue to operate when risk may be too great, as well as acting to soften financial burdens that could arise due to a covered event.

Cybersecurity insurance (or cyber insurance) provides coverage for losses due to cyber attacks, data breaches, or other tech-related risks.

Our team does not sell cyber insurance. However, we work with companies like yours to, provide consulting services that support you in navigating the IT systems and processes side of applying for cyber insurance, and in maintaining of those systems in line with the expectations of your insurers.

What can a typical cyber insurance policy cover?

The costs associated with:
  • Incident response
  • Post-threat event investigations
  • Ransom demands
  • Notifying customers about the exposure of PII, PHI, or PAN
  • Credit monitoring
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When you apply for cyber insurance, the underwriter may want information related to:

  • Your company
  • The individuals managing the IT and data for your business
  • Assessment audits performed by third parties on behalf of the insurer

Coverage

Based on the insurer’s risk assessment of your business, the insurer they will propose a coverage limit. Often, the coverage starts at $1 million per occurrence or an aggregate per year limit. Depending on your business, this may or may not be enough. Our consultants can help you think through this and dozens of other variables.

Assisting you with the insurer’s request for information.

Risk assessments performed by insurers typically include a lengthy questionnaire asking about:

  • Assets (physical and data)
  • Current security controls
  • Previous cyber events
  • Prior cyber liability claims
  • Process and documentation


You still need IT specialists on your side after your new cyber insurance policy is signed.


Getting the policy is the easiest part of a very complex process. If needed, filing a claim is the hard part. Our team works to assist you in the following:

  • Maintaining your security controls in accordance with the policy you’ve signed
  • Implementing a recognized cyber security framework
  • Demonstrating due care to the insurer
  • Keeping documentation, audits, reports, and anything else that can prove things are as they should be
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Clients' Stories
“LBT Technology Group helped us migrate our email to Office 365 seamlessly. Our employees didn't miss a beat during the entire process. If you have a desire to move your email to Office 365, we recommend consulting LBT Technology Group for a smooth transition.”
Felix Saunders

Felix Saunders President

“We were recommended LBT Technology Group by one of our business neighbors after our server was hit with ransomware. They were able to recover much of our files and now provide us with a reliable backup program. LBT was able to save us from what could have been the cause of us closing our doors for good.”
Cindy Soar

Cindy Soar Program Director

"As a small business, LBT Technology Group was able to implement the services and solutions required to meet our day-to-day business needs. They have been very responsive to any IT problems we have big or small."
Kelli Millian

Kelli Millian Office Manager

"It has been a pleasure working with the team at LBT. Although apprehensive to partner with a group outside of our organization, it became immediately clear we made the right decision to work the LBT Technology Group. They were able to identify and fill gaps in our technology we didn't know existed."
William Keen

William Keen IT Manager

"It was a pleasure working with LBT Technology Group during our time of panic. When we were forced to go 100% remote at the beginning of the pandemic, LBT was able to get all of our employees connected and working from home in a matter of hours. We are very thankful for the team's hard work."
Testimonial

Dan Parsons Director of Operations

"We are a small startup non-profit organization and LBT helped us create a great foundation for our technology. After assessing our needs, they recommended productive and collaborative tools we will grow into and not out of."
Testimonial

Jasmine Yule Founder

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