Cyber Liability Insurance is an essential coverage for businesses of all sizes. With high-profile data breaches in the headlines and the average cost per compromised record reaching into the hundreds of dollars, the financial and reputational risk of cyber incidents is too significant to ignore. The Donald Gaddis Company offers a streamlined, cost-effective Cyber Liability Insurance program tailored to small and mid-sized businesses, helping agents and brokers place competitive coverage quickly and efficiently.
Overview of the Program From Donald Gaddis Company
This Cyber Liability Insurance program is designed for entities with annual revenues up to $10 million. The core package includes data breach response and liability protection, with optional enhancements available for more complex exposures. The program is configured to be accessible and affordable for standard retail and service businesses — agents can quote many accounts quickly using simple pricing tables or submit an application for broader market placement.
Ideal Accounts and Appetite
The program fits a wide range of small to mid-sized commercial classes, including:
- Retailers that handle customer payment or personal information
- Medical and dental offices storing protected health information
- Professional service firms such as accountants, consultants, and attorneys
- Small to mid-sized technology and e-commerce companies
You might have a client who runs a multi-location boutique that accepts card payments, or a growing SaaS startup with stored customer data — both are strong candidates for this program. Accounts with highly regulated exposures, significant PCI or HIPAA complexities, or revenues above the program limits may require placement through specialty cyber markets.
Coverage Highlights and Advantages
Standard coverages focus on breach response and third-party liability. Available enhancements expand protection to cover emerging cyber threats and first-party losses, including:
- Web content liability: libel, slander, and copyright/trademark infringement
- Third-party cyber liability: denial of service and data destruction
- Breach of trade secrets
- Defense costs for regulatory actions and investigations
- First-party coverages such as:
- Data loss and destruction
- Business interruption for lost income due to a cyber event
- Cyber extortion and ransomware response
- Internal and external forensic investigations
- Fines and penalties where insurable by law
Underwriting Notes and Premium Schedule
Underwriting is primarily revenue-based and driven by the aggregate limit selected. For entities with revenue up to $5 million, pricing typically ranges from about $500 to $2,100 annually depending on limits and exposures. For revenues from $5 million to $10 million, premiums generally range from approximately $950 to $2,900. These ranges are intended as guideline pricing — final terms depend on industry, controls, and claims history.
Territories and Availability
Donald Gaddis Company offers this program in many key states. Availability and admitted vs. non-admitted options vary by state and carrier. The program is currently available in: AL, AZ, CA, CO, FL, GA, HI, IL, IN, IA, KS, MI, MN, MO, NE, NY, NC, OH, OK, PA, SC, TN, TX, VA, DC, WV, and WI.
Why Work With Donald Gaddis Company
As a wholesale broker with strong cyber market access, Donald Gaddis Company works with top cyber carriers to find the best fit for your client’s risk profile. Gaddis can help you navigate varying forms, limits, and pricing models, and can accept either their application or a completed application you already have. Their market panel includes established cyber carriers, enabling fast, competitive quotes and support through placement.
Frequently Asked Questions
What types of accounts are a good fit for this program?
Small to mid-sized businesses with up to $10 million in revenue — retailers, medical and dental offices, professional services, and many tech/e-commerce firms are ideal candidates.
Is this Cyber Liability Insurance program admitted or non-admitted?
Admitted coverage is available in some states; availability depends on the state and carrier. Donald Gaddis Company can advise on admitted vs. non-admitted options during quote placement.
Can I use my own application to get a quote?
Yes. Gaddis can work from their application or a similar completed application you provide to obtain quotes from participating markets.
What coverage enhancements are available?
Enhancements include web content liability, third-party cyber liability, business interruption, data extortion (ransomware), forensic response, and regulatory defense cost coverage.
Which carriers are part of this program?
The program places business with leading cyber markets such as Hiscox, Axis, USLI, Navigators, One Beacon, Beazley, Philadelphia, RSUI, CNA, and others.
Need help placing an account? Connect with a market specialist.