--- title: "Cybersecurity Insurance Gaining Steam - Get a Free Network Security Consultation in South Florida" description: "With cybersecurity becoming a major part of every business’ IT strategy, Insurers are starting to offer cybersecurity insurance to help offset the growing costs that come as a result of a data breach." url: "https://www.l7solutions.com/blog/cybersecurity-insurance-gaining-steam" date: "2026-06-20T02:41:50+00:00" language: "en-GB" --- ## Get a Free Network Security Consultation in South Florida Get a free network security consultation today from L7 Solutions. We are your partner for managed services & IT support in South Florida and beyond. Call today. [ Categories ](https://www.l7solutions.com/blog/categories "Categories") [ Tags ](https://www.l7solutions.com/blog/tags "Tags") [ Categories: All Categories ](https://www.l7solutions.com/javascript:void(0); "Categories") Search...Suggested keywords [ x ](https://www.l7solutions.com/javascript:void(0);) # Cybersecurity Insurance Gaining Steam [LSeven Solutions Blog](https://www.l7solutions.com/blog/categories/blog) [Security](https://www.l7solutions.com/blog/categories/security) [LSeven Solutions Admin](https://www.l7solutions.com/blog/blogger/l7-admin) Monday, 21 October 2019 [ 1 Comment ](https://www.l7solutions.com/blog/cybersecurity-insurance-gaining-steam#comments) [ ![Cybersecurity Insurance Gaining Steam](//www.l7solutions.com/images/easyblog_shared/October_2019/10-21-19/b2ap3_large_claim_125465467_400.jpg) ](//www.l7solutions.com/images/easyblog_shared/October_2019/10-21-19/claim_125465467_400.jpg "Cybersecurity Insurance Gaining Steam") Controlling your organization’s data relies on keeping your network and computing infrastructure free from threats. Early detection allows your business to actively confront risks before they develop into major issues. However, threats are becoming more difficult to detect in early stages, and one hidden threat could doom your entire business. While you might think that small businesses are not commonly targeted by cybercriminals, you’d be wrong. Small businesses tend to have less security to bypass or navigate through, meaning they are a much easier target. Data breaches can cost your business hundreds of thousands of dollars, or potentially millions, if that data falls into the hands of a vicious cybercriminal. If your business was forced to pay a million dollars at this exact moment to pay for exposure of sensitive information, could you do it? What would your plan be? Hopefully your solution involves leveraging cybersecurity insurance. While having insurance won’t prevent malware, or keep hackers away, it could be the difference between closing your business’ doors, or not. ## Types of Cybersecurity Insurance Businesses have two options when it comes to cybersecurity insurance: - **First-party** - First-party cybersecurity insurance works to cover the costs associated with being a victim of a data breach. - **Third-party** - Third-party cybersecurity insurance works to cover the costs associated with being blamed for a data breach. For most businesses, first-party insurance is a sufficient policy. ## The Standard Policy Like most insurance policies, no two are identical. Insurers are able to conform policies to your individual business needs. However, the more coverage you opt to receive, the more you will pay in premiums. Insurers configure your business policy based on your company’s industry, data risk, your security practices, your capital position, and several other variables. Configuring your business policy should not be based on the cost of the premium. It should be based on the needs of your business. Assessing cybersecurity risk is becoming a common practice, and your business should self-evaluate. ## Why Is Risk Assessment Necessary? Cybercrime is becoming a huge concern for small and large businesses alike. Cybersecurity insurance protects your company from the unbelievably high cost of data breaches. Talking to our experts at COMPANYNAME can determine whether your security practices are sufficient, and procure necessary solutions which will in turn lower premium cost. Give us a call at PHONENUMBER today. [ ](https://www.l7solutions.com/javascript:void(0);) [ ](https://www.l7solutions.com/javascript:void(0);) [ ](https://www.l7solutions.com/javascript:void(0);) Tags: [Security](https://www.l7solutions.com/blog/tags/security) [Network Security](https://www.l7solutions.com/blog/tags/network-security) [Cybersecurity](https://www.l7solutions.com/blog/tags/cybersecurity) [ Tip of the Week: Get Better at Managing Your Mobil... ](https://www.l7solutions.com/blog/tip-of-the-week-get-better-at-managing-your-mobile-data) [ Don’t Be Snagged by This Google Calendar Phishing ... ](https://www.l7solutions.com/blog/don-t-be-snagged-by-this-google-calendar-phishing-scam) About the author [ ![LSeven Solutions Admin](https://www.l7solutions.com/images/easyblog_avatar/805_844_author.png) ](https://www.l7solutions.com/blog/blogger/l7-admin) [LSeven Solutions Admin](https://www.l7solutions.com/blog/blogger/l7-admin) [ ](https://www.l7solutions.com/javascript:void(0); "Subscribe to updates from author") [ ](https://www.l7solutions.com/javascript:void(0);) [ ](https://www.l7solutions.com/blog/blogger/l7-admin) Welcome to LSeven's Blog! Here we will share useful tips and tricks for Computers and Information on Our IT Services! Author's recent posts [More posts from author](https://www.l7solutions.com/blog/blogger/l7-admin) [ Tuesday, 30 June 2026 Stop Managing Metal, Start Managing People: A Guide to Hybrid IT ](https://www.l7solutions.com/blog/stop-managing-metal-start-managing-people-a-guide-to-hybrid-it) [ Saturday, 27 June 2026 Free AI is Not Free: Why Public Tools Are a Security Risk ](https://www.l7solutions.com/blog/free-ai-is-not-free-why-public-tools-are-a-security-risk) [ Thursday, 25 June 2026 Phishing is Getting Sophisticated: The New Threats Businesses Face ](https://www.l7solutions.com/blog/phishing-is-getting-sophisticated-the-new-threats-businesses-face) Comments 1 [ ![Deborah Dickson](https://www.l7solutions.com/media/com_easyblog/images/avatars/author.png) ](https://www.l7solutions.com/javascript:void(0);) [Deborah Dickson](https://www.l7solutions.com/javascript:void(0); "Deborah Dickson") on Tuesday, 22 October 2019 13:38 I am very glad to read the post,it is very [essay research paper](https://www.proessaywriting.com/research-paper/) well written.You have done hard work in writing this post and i impressed your work. 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