By continuing to access our website, you agree to our privacy policy and use of cookies.

Skip to Main Content

Press "Enter" to search

Cyber Insurance and Risk Management

Protecting Your Reputation and Bottom Line

Understand Your Cyber Risks

The average cost of a data breach is in the millions of dollars, and the frequency of cyberattacks continues to rise. Everything from human error and insider threats to technical weaknesses, data supply chain compromises and nation-state-supported attacks leaves your organization vulnerable.

Hylant helps you confidently plan for and manage cyber risks with effective processes, tools and cyber insurance coverage.

Continue Reading
Cyber composite

Make Informed Cybersecurity Risk Management Decisions

Hylant’s cyber risk management experts will help you identify your specific areas of vulnerability and quantify their potential impact. When you can see the relative probability and magnitude of cyber exposures, including social engineering, you can make better decisions about process changes, security investments and cyber insurance coverages.

Work With the Cyber Insurance Experts

Our cyber insurance experts are prepared to answer your questions and guide you through all aspects of one of the fastest-growing risk categories affecting organizations worldwide. Here is our tested process for helping you:

Hylant Cyber Risk Management Workflow

Arguably, no team has a more difficult job right now than your cybersecurity team. We want to profoundly understand all the great work they are doing to keep your business safe. This knowledge is critical for securing the best cyber insurance coverage, terms, conditions and pricing.

We’ll explore the controls they have implemented, the vendor partners they work with, and how decisions are made. If security controls are missing, we’ll discuss what is being done to compensate. We’ll also address any concerns, such as controlling the seemingly uncontrollable, and review incident response planning.

Cyber insurance underwriters are overwhelmed. Weak or incomplete applications can result in limited or denied coverage. You have one chance to make a great impression.

We’ll help you understand what the carriers are asking for (and the significance) and ensure you have provided strong, complete responses that tell your best cybersecurity story. We may encourage you to include additional information that highlights positive actions your organization is taking that carriers haven’t asked about directly.

By this stage, we know your cybersecurity story backward and forward. We also know what carriers need and want from you. We’ll control how your story is told to the marketplace and advocate on your behalf.

We’ll invite strategic carrier partners to attend a Hylant-hosted call where we present your story, highlighting your cybersecurity team’s positive work. Before the call, we’ll walk you through the process and help you prepare. The call itself will be a conversation, not an hour-long barrage of carrier questions. Near the end of the call, we’ll allow a little time for carefully moderated questions. We’ll record the call and follow up with the underwriters, continuing to tell your story to obtain the best possible offers for coverage, terms, conditions and pricing.

While it seems invasive, carriers will scan your networks to verify that your stated controls are in place and to quantify your cyber risks before writing a policy. It’s like performing a credit check before providing a loan.

We’ll proactively run our own scan for you, explain what we find, prepare you for likely carrier responses and make strategic recommendations. If your systems perform well, we’ll proactively share that information with carriers, continuing to tell your best story to influence coverage, terms, conditions and pricing. At this stage, we also will recommend how much insurance to purchase based on your risks.

Once we receive the quotes and ensure they are the best that can be achieved, we’ll present the offers to you. Together, we’ll review them line by line so that you understand how they compare.

We’ll explain what is included in the proposed coverage (e.g., business interruption coverage, fees for data breach attorneys, etc.), how much coverage is offered, and what will trigger the policy. We’ll review the terms and conditions, ensure the policy works with your other policies (e.g., property, executive risk, crime) to avoid potential gaps and make recommendations for your consideration. We’ll bind coverage based on your decision.

An insurance policy is only valuable if you know how to use it. We’ll work with your risk management and cybersecurity teams to ensure they understand how your policy works and what to do (and not do) if an incident occurs. We’ll connect you with resources (e.g., forensics provider, data breach attorneys, media management) as needed before anything happens and give you access to free services and tools (e.g., incident response planning, cyber risk scanning) to support your ongoing cyber risk mitigation efforts.

We recommend meeting at least quarterly to review any changes in the business (e.g., new software, use of AI, M&A activity, new suppliers or partners, etc.) to ensure coverage remains gap-free. Our goal is to keep your business safe and to make your next cyber insurance renewal even better.

If the worst happens, Hylant will further support you with expert claims advocacy and management. To see what a cyber claim could look like, read this case study.

Cyber Risk E-Book

Learn about actions you can take to manage your cyber risks, limit the potential for losses and protect your bottom line.

Download Your E-Book
Cyber website composite



Alex Clark

Cyber Practice Leader

Hylant Cyber Practice Leader Alex Clark helps clients understand emerging technology risks and the importance of pre- and post-breach readiness. He takes a hands-on approach to placing coverage and ensuring clients know how to use their cyber policy, prevent incidents, minimize payouts and execute incident response plans. He holds Cyber Professional Liability Practitioner and Cyber Risk Manager designations and is a Professional Liability Underwriting Society member.

What Is Cyber Insurance?

Cyber coverage is complex and nuanced. Read our starter's guide "What Is Cyber Insurance?" to learn more.

Read the Blog

Trusted Advisors

Our client executives become your partner to guide you to the right cyber risk management solutions.

Find a Hylant Team Member

Related Insights

Talk to an Expert

Our experts will help you find the best cyber insurance options for your particular needs.

Get Started