--- title: "Cyber Insurance Limits: How Much is Enough?" description: Calculating Cyber Insurance limits can be complicated. It's not just about paying a ransom demand. Records, data, and indirect costs need to be considered image: https://blog.lmttech.com/hubfs/75951764_s_123rf-1.png --- [![lmt-logo-rgb1 copy](https://blog.lmttech.com/hs-fs/hubfs/lmt-logo-rgb1%20copy.jpg?width=2932&height=1619&name=lmt-logo-rgb1%20copy.jpg "lmt-logo-rgb1 copy")](https://www.lmttech.com) # The LMT Blog ## [Cyber Insurance Limits: How Much is Enough?](https://blog.lmttech.com/cyber-insurance-limits-how-much-is-enough) ** Feb 11, 2020 11:15:20 AM / by [James Keeler](https://blog.lmttech.com/author/james-keeler) In Part I of this two-part series “[Cyber Insurance – Have You Read the Fine Print?](https://blog.lmttech.com/cyber-insurance)” we wrote of the importance of carefully reviewing clauses when it comes to your Cyber Insurance policy. If you haven’t read the article, take a look [here](https://blog.lmttech.com/cyber-insurance) for some great insight into some seldom-known facts. What is better known to many policy holders are coverage limits – the maximum amount of money an insurance company will pay or reimburse you for a covered loss. When evaluating what limits to choose, your business must take into consideration: - **The number of sensitive records your business stores** - **The type of data used** - **What your company stands to lose if a data breach occurs, including productivity loss, reputation cost, exposure to civil suits relating to the breach, and possible regulatory fines** For example, a mid-sized Financial Firm may incur the following costs in the event of a cyber-attack: ## **Cyber Insurance & Ransomware (Cyber Extortion)**   ![Ransomware Graphic_Cyber Insurance Blog Article_B](https://blog.lmttech.com/hs-fs/hubfs/Ransomware%20Graphic_Cyber%20Insurance%20Blog%20Article_B.png?width=600&name=Ransomware%20Graphic_Cyber%20Insurance%20Blog%20Article_B.png)   ## **Cyber Insurance & ****Data Breach** **Per Record Method of Cost Estimation**: Approx. avg of $150 per breached record** – **think “rows on a spreadsheet” where each row = 1 record. **Granular Method** **of Cost Estimation**: - $30-45k in forensic costs - 4-6 hours in IT investigation & remediation - Lost productivity for compromised account/executives who have to deal with breach - unknown cost of legal fees - Possible additional costs related to notification/credit monitoring for victims ## **Cyber Insurance & Business Email Compromise** Much like a Data Breach, **but** if the account breached had no possible access to Personally Identifiable Information/Personal Financial Information/Personal Health Information, this may be able to be remediated in 4-6 hours of IT investigation & remediation time. There are a large number of variables at play when it comes to assessing the financial and business risks associated with cybercrime. Cyber Insurance can be complicated; LMT is here to simplify the complexities of IT for your company. LMT can work with your insurance agent and ask the right questions to help you best plan for, guard against, and defend cyber-attacks. **James Keeler**, CISSP LMT Cybersecurity Manager ![James Keeler-1](https://blog.lmttech.com/hs-fs/hubfs/James%20Keeler-1.jpeg?width=168&name=James%20Keeler-1.jpeg) [![CONTACT US](https://no-cache.hubspot.com/cta/default/5032426/9d883da3-c6ef-44d8-b5cb-dd5c95bb15e9.png)](https://cta-redirect.hubspot.com/cta/redirect/5032426/9d883da3-c6ef-44d8-b5cb-dd5c95bb15e9)   Topics: [IT](https://blog.lmttech.com/topic/it), [Cyber-Security](https://blog.lmttech.com/topic/cyber-security), [#cyberinsurance](https://blog.lmttech.com/topic/cyberinsurance), [Cybersecurity](https://blog.lmttech.com/topic/cybersecurity) Share on Social: [![Share on facebook](https://7528309.fs1.hubspotusercontent-na1.net/hub/7528309/hubfs/raw_assets/public/mV0_d-web-default-modules_hubspot/img/facebook-color.png?width=24&name=facebook-color.png) ](https://www.facebook.com/share.php?u=https%3A%2F%2Fblog.lmttech.com%2Fcyber-insurance-limits-how-much-is-enough%3Futm_medium%3Dsocial%26utm_source%3Dfacebook) [![Share on linkedin](https://7528302.fs1.hubspotusercontent-na1.net/hub/7528302/hubfs/raw_assets/public/mV0_d-web-default-modules_hubspot/img/linkedin-color.png?width=24&name=linkedin-color.png) ](https://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fblog.lmttech.com%2Fcyber-insurance-limits-how-much-is-enough%3Futm_medium%3Dsocial%26utm_source%3Dlinkedin) [![Share on twitter](https://7528304.fs1.hubspotusercontent-na1.net/hub/7528304/hubfs/raw_assets/public/mV0_d-web-default-modules_hubspot/img/twitter-color.png?width=24&name=twitter-color.png) ](https://twitter.com/intent/tweet?original_referer=https%3A%2F%2Fblog.lmttech.com%2Fcyber-insurance-limits-how-much-is-enough%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&url=https%3A%2F%2Fblog.lmttech.com%2Fcyber-insurance-limits-how-much-is-enough%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&source=tweetbutton&text=) --- ### Subscribe to Email Updates --- [![New call-to-action](https://no-cache.hubspot.com/cta/default/5032426/8e6ab643-791b-45e2-936c-e1aab416761f.png)](https://cta-redirect.hubspot.com/cta/redirect/5032426/8e6ab643-791b-45e2-936c-e1aab416761f) --- ### Recent Posts --- ### Posts by Topic - [Cybersecurity (36)](https://blog.lmttech.com/tag/cybersecurity) - [IT (30)](https://blog.lmttech.com/tag/it) - [Cyber-Security (22)](https://blog.lmttech.com/tag/cyber-security) - [security (14)](https://blog.lmttech.com/tag/security) - [technology (11)](https://blog.lmttech.com/tag/technology) - [Email Compromise (10)](https://blog.lmttech.com/tag/email-compromise) - [Business (9)](https://blog.lmttech.com/tag/business) - [Cybercrime (9)](https://blog.lmttech.com/tag/cybercrime) - [Phishing (9)](https://blog.lmttech.com/tag/phishing) - [Small Business (9)](https://blog.lmttech.com/tag/small-business) - [Cyber Crime (7)](https://blog.lmttech.com/tag/cyber-crime) - [COVID-19 (5)](https://blog.lmttech.com/tag/covid-19) - [Coronavirus (5)](https://blog.lmttech.com/tag/coronavirus) - [Data Privacy (4)](https://blog.lmttech.com/tag/data-privacy) - [Digital Communication (4)](https://blog.lmttech.com/tag/digital-communication) - [Information Security (4)](https://blog.lmttech.com/tag/information-security) - [MFA (4)](https://blog.lmttech.com/tag/mfa) - [Business Continuity (3)](https://blog.lmttech.com/tag/business-continuity) - [Data Protection (3)](https://blog.lmttech.com/tag/data-protection) - [Holidays (3)](https://blog.lmttech.com/tag/holidays) - [Ransomware (3)](https://blog.lmttech.com/tag/ransomware) - [Vendor Email Compromise (3)](https://blog.lmttech.com/tag/vendor-email-compromise) - [#CybersecurityAwarenessMonth (2)](https://blog.lmttech.com/tag/cybersecurityawarenessmonth) - [#cyberinsurance (2)](https://blog.lmttech.com/tag/cyberinsurance) - [Artificial Intelligence (2)](https://blog.lmttech.com/tag/artificial-intelligence) - [Cybersecurity Awareness Month (2)](https://blog.lmttech.com/tag/cybersecurity-awareness-month) - [Disaster Recovery (2)](https://blog.lmttech.com/tag/disaster-recovery) - [Due Diligence (2)](https://blog.lmttech.com/tag/due-diligence) - [Financial Relief (2)](https://blog.lmttech.com/tag/financial-relief) - [ITSupport (2)](https://blog.lmttech.com/tag/itsupport) - [Multifactor Authentication (2)](https://blog.lmttech.com/tag/multifactor-authentication) - [New York Reopens (2)](https://blog.lmttech.com/tag/new-york-reopens) - [Remote workforce returning to the office (2)](https://blog.lmttech.com/tag/remote-workforce-returning-to-the-office) - [Risk Management (2)](https://blog.lmttech.com/tag/risk-management) - [VEC (2)](https://blog.lmttech.com/tag/vec) - [industries (2)](https://blog.lmttech.com/tag/industries) - [#Christmas (1)](https://blog.lmttech.com/tag/christmas) - [#Shopping (1)](https://blog.lmttech.com/tag/shopping) - [2FA (1)](https://blog.lmttech.com/tag/2fa) - [3CX (1)](https://blog.lmttech.com/tag/3cx) - [AI (1)](https://blog.lmttech.com/tag/ai) - [Automation (1)](https://blog.lmttech.com/tag/automation) - [BCDR (1)](https://blog.lmttech.com/tag/bcdr) - [BuildingAStrongerAmerica (1)](https://blog.lmttech.com/tag/buildingastrongeramerica) - [Business Model (1)](https://blog.lmttech.com/tag/business-model) - [Business Security (1)](https://blog.lmttech.com/tag/business-security) - [Business Technology (1)](https://blog.lmttech.com/tag/business-technology) - [CISA (1)](https://blog.lmttech.com/tag/cisa) - [CISSP (1)](https://blog.lmttech.com/tag/cissp) - [Client Experience (1)](https://blog.lmttech.com/tag/client-experience) - [Cloud (1)](https://blog.lmttech.com/tag/cloud) - [Cloud Services (1)](https://blog.lmttech.com/tag/cloud-services) - [Compliance (1)](https://blog.lmttech.com/tag/compliance) - [CriticalInfrastructure (1)](https://blog.lmttech.com/tag/criticalinfrastructure) - [DFS (1)](https://blog.lmttech.com/tag/dfs) - [Data Breach (1)](https://blog.lmttech.com/tag/data-breach) - [Digital Identity (1)](https://blog.lmttech.com/tag/digital-identity) - [Digital Transformation (1)](https://blog.lmttech.com/tag/digital-transformation) - [Document Drafting (1)](https://blog.lmttech.com/tag/document-drafting) - [Endpoint Detection (1)](https://blog.lmttech.com/tag/endpoint-detection) - [Holiday Scams (1)](https://blog.lmttech.com/tag/holiday-scams) - [IT Consulting (1)](https://blog.lmttech.com/tag/it-consulting) - [IT Infrastructure (1)](https://blog.lmttech.com/tag/it-infrastructure) - [Identity Theft (1)](https://blog.lmttech.com/tag/identity-theft) - [Law Firms (1)](https://blog.lmttech.com/tag/law-firms) - [Legal (1)](https://blog.lmttech.com/tag/legal) - [Legal Firm (1)](https://blog.lmttech.com/tag/legal-firm) - [Legal IT (1)](https://blog.lmttech.com/tag/legal-it) - [Legal Tech (1)](https://blog.lmttech.com/tag/legal-tech) - [Legal Trends (1)](https://blog.lmttech.com/tag/legal-trends) - [MSP (1)](https://blog.lmttech.com/tag/msp) - [Managed Service Provider (1)](https://blog.lmttech.com/tag/managed-service-provider) - [Microsoft (1)](https://blog.lmttech.com/tag/microsoft) - [Microsoft End of Life (1)](https://blog.lmttech.com/tag/microsoft-end-of-life) - [NYS Department of Financial Services (1)](https://blog.lmttech.com/tag/nys-department-of-financial-services) - [NYSDFS (1)](https://blog.lmttech.com/tag/nysdfs) - [Network Security (1)](https://blog.lmttech.com/tag/network-security) - [Non-Disclosure Agreement (1)](https://blog.lmttech.com/tag/non-disclosure-agreement) - [Phishing Scams (1)](https://blog.lmttech.com/tag/phishing-scams) - [PrintNightmare (1)](https://blog.lmttech.com/tag/printnightmare) - [Remote Workers (1)](https://blog.lmttech.com/tag/remote-workers) - [Returning to the Office (1)](https://blog.lmttech.com/tag/returning-to-the-office) - [SMB (1)](https://blog.lmttech.com/tag/smb) - [Security Audits (1)](https://blog.lmttech.com/tag/security-audits) - [Silent Starling (1)](https://blog.lmttech.com/tag/silent-starling) - [Smartphone (1)](https://blog.lmttech.com/tag/smartphone) - [Social Engineering (1)](https://blog.lmttech.com/tag/social-engineering) - [Stolen Identity (1)](https://blog.lmttech.com/tag/stolen-identity) - [Tax Season (1)](https://blog.lmttech.com/tag/tax-season) - [Travel (1)](https://blog.lmttech.com/tag/travel) - [Vacation (1)](https://blog.lmttech.com/tag/vacation) - [Windows 7 (1)](https://blog.lmttech.com/tag/windows-7) [See all](https://blog.lmttech.com/cyber-insurance-limits-how-much-is-enough#) --- [Tweets by LMTtechnology](https://twitter.com/LMTtechnology?ref_src=twsrc%5Etfw) ## About LMT **LMT Technology Solutions in Rochester, NY delivers managed IT, cybersecurity, cloud computing, risk management, systems integration, VCIO and other business information technology services. We've been a trusted IT partner in Western New York and beyond since 1996.** [Learn More](https://www.lmttech.com/) ## Links ## Contact Us ** (585) 784-7470 ** [support@LMTtech.com](mailto:support@LMTtech.com) ** 800 Linden Avenue Rochester, New York 14625 © Copyright 2026 LMT Technology Solutions. [**](https://blog.lmttech.com/cyber-insurance-limits-how-much-is-enough#) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "James Keeler", "url" : "https://blog.lmttech.com/author/james-keeler" }, "dateModified" : "2020-02-11T16:15:20.575Z", "datePublished" : "2020-02-11T16:15:20.000Z", "headline" : "Cyber Insurance Limits: How Much is Enough?", "image" : [ "https://blog.lmttech.com/hubfs/75951764_s_123rf-1.png" ], "mainEntityOfPage" : { "@id" : "https://blog.lmttech.com/cyber-insurance-limits-how-much-is-enough", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://blog.lmttech.com/hubfs/lmt-logo-rgbB-1.png" }, "name" : "LMT Technology Solutions" } } ```