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How Do I Apply for Cyber Insurance?

As of now, cyber insurance is not covered under traditional business package policies and requires a separate cyber insurance application. There are currently no underwriting standards for these policies, and so it’s important to choose an insurance partner you trust. Roanoke Trade offers cyber insurance that is designed for logistics services providers to help mitigate costs associated with cyber attacks on your business. Some policies through Roanoke Trade can even be customized to offer crisis management services. 

Through Roanoke Trade, it is easy to apply for cyber insurance by simply contacting us at 1-800-ROANOKE or completing the contact form on our website. We have the expertise, experience, and products to help protect your operation, your employees, and your financial assets. Plus, we go above and beyond traditional cyber insurance offerings. We also offer customized insurance policies that provide crisis management services and business interruption services designed to protect your company from more complex subsequent losses due to a cyber attack. 

As there is no standard form for cyber coverage, when it comes to a cyber insurance application, the required information can vary quite a bit by the insurance company you choose, but in most instances, you’ll need to provide: 

  • General contact information
  • Total number of employees
  • Annual sales or revenue earned
  • Annual sales from online
  • Information you collect from leads or customers (PII)
  • Coverage selection 
  • Loss experience within the company
  • Risk control factors within the company
  • Privacy controls within the company
  • Media liability controls

When it comes to buying insurance of any kind for your business, you need to choose an insurance provider you can trust. Cybercrime is an emerging and constantly evolving risk for businesses of all sizes and in all industries. Logistics service providers do the majority of their business electronically, and it’s not unusual for any one shipment to pass through multiple personal computers, websites, servers, cloud services, and even websites owned by third parties. Because of this, it is oftentimes a matter of ‘when’ a breach will happen and not ‘if’ a breach will happen. 

When working with Roanoke Trade, our representatives can help walk you through the cyber insurance application to ensure you find the best solutions for your freight forwarding company. In general, there are 7 different types of coverage that can be customized to suit your transportation company’s needs. These include: 

  1. Data Loss Coverage 
  2. Notification Expenses
  3. Regulatory Investment Expenses
  4. Public Relations
  5. Business Interruption
  6. Content Liability
  7. Data Loss in Transit

While there is no simple solution to cybercrime, there are ways to protect your organization by covering your exposure with various options through your insurance provider. We encourage you to reach out to Roanoke Trade to learn more about how you can better protect your company from cyber fraud, hacking, data breaches, and more. It is our goal to help you feel confident doing business while keeping your company, customers, and employees safe. 

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