Technology/SaaS
Financial Services
Retail/E-commerce
Healthcare
Manufacturing
Other
Low (minimal PII, no financial data)
Medium (PII, basic transaction data)
High (Financial records, health data, extensive PII)
Your estimated annual cyber insurance premium is: $0.00
Understanding Cyber Insurance Costs
Cyber insurance is a crucial investment for businesses of all sizes in today's digital landscape. It helps protect your organization from the financial impact of cyber incidents, such as data breaches, ransomware attacks, and business interruption caused by cyber events.
The cost of cyber insurance, known as the premium, is not a fixed rate. It varies significantly based on several key factors that reflect your business's unique risk profile. Our calculator provides an *estimated* annual premium based on common underwriting principles. It's important to consult with an insurance broker for a precise quote.
Factors Influencing Your Cyber Insurance Premium:
Annual Revenue: Larger businesses generally face higher premiums because they represent a larger potential target and have more assets at risk.
Number of Employees: A higher number of employees can increase the attack surface (more endpoints, more potential for human error) and the scope of a breach.
Industry: Certain industries are more attractive targets for cybercriminals due to the type and value of data they hold. For example, financial services and healthcare often face higher premiums than manufacturing.
Data Sensitivity: The type of data your business handles is a critical factor. Businesses that store or process sensitive personal information (PII), financial data, or health records are at a higher risk and will typically pay more.
Cybersecurity Measures: The strength and sophistication of your existing cybersecurity defenses play a significant role. Businesses with robust security protocols, regular training, and advanced technical safeguards may qualify for lower premiums. This calculator uses a simplified score where higher scores indicate better security posture.
How the Calculator Works (Simplified Model):
This calculator uses a baseline premium calculation that is then adjusted by various risk factors. The formula is a simplified representation:
Estimated Premium = (Annual Revenue * Base Rate Factor) * Industry Risk Multiplier * Data Sensitivity Multiplier * Cybersecurity Adjustment
The "Cybersecurity Adjustment" in this model is a discount applied based on the cybersecurity maturity score. A score of 100 would represent maximum discount, while lower scores result in less discount or even a slight penalty if interpreted negatively (though this calculator simplifies it as a discount factor).
In this calculator:
A base rate is implicitly applied to the Annual Revenue.
The selected Industry and Data Sensitivity directly apply their respective multipliers.
The Cybersecurity Maturity Score is used to calculate an adjustment factor. A higher score provides a greater discount. The formula used here is roughly: 1 - (Score / 200). For example, a score of 75 gives a discount of 1 - (75/200) = 1 - 0.375 = 0.625 (meaning the premium is multiplied by 0.625). A score of 0 would give no discount (multiplied by 1), and a score of 100 would give a 50% discount (multiplied by 0.5).
Example Calculation:
Let's consider a mid-sized technology company:
Annual Revenue: $5,000,000
Number of Employees: 50 (Note: Employee count is a qualitative factor for underwriters but not directly in this simplified formula)
Apply Industry & Data Sensitivity: $25,000 * 0.005 (Data Sensitivity) = $125
Apply Cybersecurity Adjustment: Score of 75 gives a multiplier of 1 - (75 / 200) = 0.625.
Final Estimated Premium: $125 * 0.625 = $78.13 (This simplified model might yield very low numbers for demonstration; real-world premiums are often significantly higher due to base costs and other factors.)
*Disclaimer: This calculator provides a simplified estimation for educational purposes. Actual cyber insurance premiums are determined by detailed underwriting and can vary widely. Always consult with a licensed insurance professional for accurate quotes.*
function calculateCyberInsuranceCost() {
var annualRevenue = parseFloat(document.getElementById("annualRevenue").value);
var employeeCount = parseInt(document.getElementById("employeeCount").value);
var industryMultiplier = parseFloat(document.getElementById("industry").value);
var dataSensitivityMultiplier = parseFloat(document.getElementById("dataSensitivity").value);
var cyberSecurityScore = parseFloat(document.getElementById("cyberSecurityMeasures").value);
var resultValueElement = document.getElementById("result-value");
var resultValue = "$0.00";
if (isNaN(annualRevenue) || isNaN(employeeCount) || isNaN(cyberSecurityScore)) {
alert("Please enter valid numbers for Annual Revenue, Number of Employees, and Cybersecurity Score.");
resultValueElement.innerHTML = "$NaN";
return;
}
if (annualRevenue < 0 || employeeCount < 0 || cyberSecurityScore 100) {
alert("Please enter non-negative values for revenue and employees, and a score between 0 and 100.");
resultValueElement.innerHTML = "$Invalid";
return;
}
// Simplified base rate and calculation logic
// In reality, base rates vary greatly and are determined by insurers.
// This example uses a very rough approximation.
var baseRate = 0.001; // A hypothetical base rate per dollar of revenue
// Calculate initial premium before adjustments
var initialPremium = annualRevenue * baseRate;
// Apply industry and data sensitivity multipliers
var adjustedPremium = initialPremium * industryMultiplier * dataSensitivityMultiplier;
// Calculate cybersecurity adjustment factor (discount)
// A score of 0 means no discount (multiplier = 1)
// A score of 100 means a 50% discount (multiplier = 0.5)
var cyberSecurityAdjustment = 1 – (cyberSecurityScore / 200);
if (cyberSecurityAdjustment 1) cyberSecurityAdjustment = 1; // Ensure no increase for very low scores in this model
var finalPremium = adjustedPremium * cyberSecurityAdjustment;
// Ensure the premium is at least a minimum value, as insurance companies have minimums
var minimumPremium = 500; // Hypothetical minimum premium
if (finalPremium < minimumPremium) {
finalPremium = minimumPremium;
}
resultValue = "$" + finalPremium.toFixed(2);
resultValueElement.innerHTML = resultValue;
}