Does cyber insurance cover ransomware and business interruption?

Yes. A well-built cyber liability insurance policy typically covers both ransomware attacks and the business interruption losses that follow. These are two of the most damaging cyber events a Georgia business can face, and standard property and liability policies usually will not respond to them.

On the ransomware side, cyber coverage can help pay for expert response, negotiation with attackers, ransom payments where permitted, data restoration, and the forensic work needed to find and close the breach. Business interruption coverage then addresses the income you lose while your systems are down and the extra costs of getting back online.

Here is an example. A small Georgia accounting firm is hit by ransomware during tax season. Their files are locked, they cannot serve clients for several days, and they face response costs plus lost revenue. A cyber policy can fund the recovery effort and replace a portion of the income lost during the shutdown, which can be the difference between recovering and closing.

Coverage details vary widely between policies. Watch for sublimits on ransomware, waiting periods before business interruption pays, and an exclusion for failing to maintain basic security like multi-factor authentication and backups. Reading those terms closely matters.

Cyber risk is now a core exposure for any business that uses email, stores customer data, or accepts online payments. Want to know whether your current protection holds up against a ransomware event? Get a free coverage review today.