Every business uses technology in some way—from email and online banking to cloud-based software and customer portals. Those tools make work easier, but they also create new risks: data breaches, wire fraud, ransomware, and other cyber events that can disrupt operations and strain finances.

Cyber insurance is one way to help your business respond when a cyber incident happens. At Comegys Insurance Agency, we can help you review your current insurance program and explore cyber coverage options that may be available for your situation.

Cyber insurance is a type of business insurance designed to address certain financial and legal consequences of a covered cyber event.

Depending on the policy and carrier, cyber coverage may help with things like:

• Responding to a data breach involving customer, patient, or employee information
• Handling a ransomware or extortion demand
• Recovering from funds-transfer fraud or social engineering scams
• Restoring corrupted data or systems after a covered incident
• Addressing certain regulatory or legal obligations related to a covered event

Every policy is different. Limits, exclusions, and conditions vary by carrier and by form. Our role is to help you understand the options being offered so you can decide what is appropriate for your business.

You do not need to be a large corporation to be targeted. Many small and mid-sized businesses in Florida face risks such as:

• Phishing and social engineering
  Fraudulent emails or texts that trick employees into sending money or revealing login credentials.
• Ransomware and malware
  Malicious software that locks or damages your systems and demands a payment to restore access.
• Business email compromise
  Criminals posing as owners, vendors, or employees to redirect payments or change banking information.
• Data breaches
  Unauthorized access to personal, financial, or health information that may trigger notification and other legal requirements.
• Business interruption
  Cyber events that temporarily shut down your network, point-of-sale systems, website, or online scheduling tools.

Cyber insurance does not prevent incidents, but certain policies may help your business respond and recover from a covered event.

Coverage is always subject to the specific terms, conditions, and exclusions of the policy, but cyber insurance may include one or more of the following types of protection:

First-party coverages (for your own costs)

• Costs to notify affected individuals after a covered breach
• Credit or identity monitoring services for impacted individuals, if included in the policy
• Legal and forensic services to investigate what happened
• Public relations or crisis management services related to the incident
• Certain data restoration and system recovery expenses
• Certain business income loss and extra expenses during a covered interruption

Third-party coverages (for claims against your business)

• Certain defense costs and settlements from covered lawsuits or claims related to a cyber event
• Certain regulatory proceedings and penalties, where insurable and covered by the policy

Not all policies include all of these elements. Carriers may also offer endorsements that limit, expand, or modify coverage. We can help you review sample quotes and policy language from different companies so you can compare what is being offered.

Cyber insurance can be worth considering for many types of organizations, including:

• Professional offices (law, accounting, real estate, consulting)
• Healthcare practices and wellness providers
• Retail shops and restaurants that accept credit cards
• Contractors and service providers who access client systems or data
• Nonprofits, associations, and community organizations
• Any business that stores personal information or relies on computers, email, or the internet to operate

If your business takes payments, stores customer information, uses cloud software, or could be disrupted by a system outage, cyber coverage may be worth a conversation.

Comegys Insurance Agency is an independent agency based in St. Petersburg, Florida. That means we work with multiple insurance companies and can request cyber quotes from different carriers, subject to their underwriting guidelines.

When you ask us to review cyber insurance options, we typically:

1. Learn about your operations
   We ask questions about your industry, size, locations, and how you use technology and data.
2. Discuss your current insurance program
   We look at existing policies (such as general liability, property, or professional liability) to understand what may already be included and where gaps might exist.
3. Gather underwriting information
   Carriers often want to know about your security practices, such as multi-factor authentication, backups, vendor management, and employee training.
4. Request quotes from one or more insurers
   Availability of coverage, limits, and pricing are determined by the insurance companies based on their own eligibility rules and risk appetite.
5. Review the options with you
   We can help you compare key features, such as limits, deductibles, incident-response services, and major exclusions, so you can decide what fits your priorities and budget.

Our goal is to be a resource as you evaluate cyber insurance—not to guarantee any specific outcome or to promise that any policy will address every cyber risk your business may face.

When you reach out to us about cyber insurance:

• There is no obligation to purchase coverage
• We will rely on the information you provide about your business and operations
• Coverage is not effective until it is confirmed in writing by the carrier and you have agreed to the terms, conditions, and premiums
• Your actual policy documents—once issued—will control what is and is not covered

If you decide not to purchase cyber insurance, or if you decline certain options that are offered, those coverages will not apply unless you request them and they are later approved and added by the carrier.

If you would like to explore cyber insurance for your business or review your current insurance program, we invite you to contact us.