What is online revenue interruption insurance?
More and more companies are doing more and more business online. This is especially true in retail. E-commerce is a rapidly growing sector of our economy but is especially vulnerable to cyber events. Our insurance is meant to cover online transactional revenue - purchases that occur through a website and are time-dependent. As a result, we don’t cover in-app purchases or point-of-sale systems or other hardware devices like Square. We also don’t cover SaaS or other products with a stored payment method that can result in re-billing in the event of technical difficulties.
What is downtime?
Downtime is our term for when your website isn’t functioning. This impacts your ability to collect revenue from digital sources, which we think is one of the essential business risks of our time.
Who is this insurance for?
Our insurance is intended for small-to-medium sized e-commerce companies, as these are the kinds of companies whose lifeblood is online transactional revenue.
What kinds of incidents are covered with this insurance?
CyberFortress insurance covers a broad range of perils. Unlike a lot of cyber policies, we cover losses as a result of service provider failures, power outages, telecommunications issues, and more. You can find out our full set of covered perils in our <<policy>>.
How quickly can I expect to get a claim paid?
In the event that a claim is not disputed, we send secure ACH payments upon termination of the claim and, if the claim takes longer than 24 hours, every 24 hours past the starting point of the claim until the claim ends or the limit of the policy is reached.
Do you provide any cybersecurity training or crisis management services?
We do not. We are focused on getting our insureds cash as quickly as possible so that they can stay in business. From our perspective, there’s no point in having crisis management services available if you’re already out of business because you don’t have enough money for payroll!
Does this insurance cover any other online risks like cyber liability?
No. Our solution is purpose-built to help e-commerce companies survive the enormous threat of downtime to their business.
Is there a deductible?
Yes. Our deductible is 8 hours of downtime. Any downtime you experience past that point up to the policy limit will be covered by your CyberFortress insurance.
What is the maximum amount of coverage you offer?
The maximum amount of online revenue that we insure is $420,000. We have an aggregate monthly limit of 7 days. So if you reach 168 hours of downtime in a month, we don’t cover any lost revenue beyond that.
Where is your coverage available?
Currently we are only selling in Texas, but we are planning to roll out across the nation as soon as possible. Check out our Licenses page for the most updated overview of where our coverage is available.
What factors affect my risk profile?
Simply put: all of your behaviors through history! Every business leaves fingerprints all across the internet pertaining to their technology choices from the moment they get online. This forms the foundation of our assessment. But our model is behaviorally focused so what matters is not simply your technology choices but how those have changed through time and the pace of those changes. That’s what affects your score.
I’d like to buy this insurance, where do I go?
Wonderful! Head to www.cyberfortress.com.
I’d like to learn more, who can I talk to?
To speak to one of our licensed representatives, you can send us an email at email@example.com or call us at (856) 281-3814.