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Top 10 Best Cyber Insurance Companies for 2021

Updated: Nov 30, 2021

Cyber Insurance (also referred to a cyber risk or cyber liability insurance) is a form of cover designed to protect your business from threats in the digital age, such as data breaches or malicious cyber hacks on work computer systems.

Cyber insurance generally covers your business' liability for a data breach involving sensitive customer information, such as Social Security numbers, credit card numbers, account numbers, driver's license numbers and health records.

If your business computer system is compromised by a targeted or an accidental attack, you may be liable for the cost to notify the affected parties and provide credit monitoring, even if the data is not exploited. You could lose money to a phishing attack or lose business due to a ransomware demand.

A cyber insurance policy is designed to cover privacy, data, and network exposures. The list of regulations and statutes continues to expand regarding the use and protection of cyber security information, as well as notification requirements in the event of a breach. As cyber exposures continue evolving, so will your need to ensure that your business is protected if a cyber attack occurs.

Here is the list of top 10 cyber insurance companies.


Hiscox is number one in Top 10 best Cyber Insurance Companies for 2021. Hiscox received A ratings from both AM Best and Standard & Poor’s. Hiscox’s cyber liability insurance is designed for small businesses and includes coverage for common costs resulting from cybercrimes, including breaches, extortion, and social engineering fraud. Insureds can upgrade their coverage to include digital media coverage for copyright infringement, invasion of privacy, and other claims that arise from your website or social media presence.


Chubb is number two in Top 10 best Cyber Insurance Companies for 2021. Chubb has an A++ rating from AM Best and an AA rating from Standard & Poor’s, indicating excellent financial strength. The company has offered cyber liability insurance since 1998 and offers several customizable cyber liability programs for businesses of all sizes and from all industries, including those industries that have a high frequency of cyber incidents. Chubb offers risk management information and assessments, along with a variety of services to minimize risk and mitigate losses.

The Hartford

The hartford is number three in Top 10 best Cyber Insurance Companies for 2021. The Hartford has been given an A+ rating by both AM Best and Standard & Poor’s. The insurer offers two cyber policies: data breach insurance for small businesses and cyber liability insurance for larger businesses. Data breach policies can also be customized with business income and extra expense coverage, prior acts coverage, and extortion coverage. The Hartford’s Cyber Center provides information on how to avoid incidents and maintain online safety. The Hartford also offers online quoting.


AIG is number four in Top 10 best Cyber Insurance Companies for 2021. AIG has an A rating from AM Best and an A+ from Standard & Poor’s. American International Group (AIG) is a global insurance company that operates in 80 countries and jurisdictions. AIG’s cyber insurance can be written through a standalone CyberEdge policy or endorsed on to select financial lines, property and casualty policies.


CNA is number five in Top 10 best Cyber Insurance Companies for 2021. CNA received an A rating from AM Best and an A+ from Standard & Poor’s. Headquartered in Chicago, CNA has offices throughout the US, Canada, and Europe. It offers a suite of cyber liability insurance products and risk control resources for businesses of all sizes, built on nearly two decades of cyber insurance expertise.


Arch is number six in Top 10 best Cyber Insurance Companies for 2021. ARCH Insurance has an A+ rating with the Better Business Bureau (BBB), with a total of 16 complaints on file in the past three years. Arch Insurance provides a wide range of property, casualty and specialty insurance for corporations, professional firms and financial institutions across the U.S.


Hanover is number seven in Top 10 best Cyber Insurance Companies for 2021. The Hanover is a leading property, data brach and casualty insurance company offering a broad portfolio of tailored coverage solutions for personal, commercial and specialty customers. Whether you're a main street business or a technology company with 100 employees, The Hanover has a cyber solution to meet your needs.


Intact is number eight in Top 10 best Cyber Insurance Companies for 2021. Intact Insurance has nearly a couple of decades' worth of experience under its belt today. Intact also provides cyber insurance.


Beazely is number nine in Top 10 best Cyber Insurance Companies for 2021. Beazley are a group of global insurance professionals operating in the London market and specialising in marine, property, data breach and life insurance.


Axis is number ten in Top 10 best Cyber Insurance Companies for 2021. AXIS provide Cyber insurance for large global and large middle-market businesses. AXIS Insurance and Elpha Secure, a cyber security company built for the insurance industry, today announced a strategic partnership to provide cyber insurance.

Increased reliance on computer systems and access to information can significantly increase a company’s vulnerability to cyber security threats. Outages, mistakes, or attacks on these new processes can result in significant out-of-pocket costs that can devastate an organisation’s bottom line. When it comes to data security breach or privacy loss, it isn’t a matter of whether it will happen, but rather when it will happen. To prevent it from happening, you’ll need comprehensive protection from an insurer that specialises in handling cyber risks, offers a full suite of integrated insurance solutions to help minimise gaps in coverage, and understands how to tailor coverage for your business.

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