Cyber insurance has become a popular risk management tool among businesses across the country, especially with the rapid shift to digital transformation giving rise to constantly evolving cyber threats. And as the frequency and severity of these cyberattacks intensify, the top cyber insurance companies have a vital role to play in keeping businesses protected.
To give you an overview of the different levels of coverage available, Insurance Business lists the top cyber insurance companies in the US in this article. If you’re looking for a cyber insurance provider that can cater to the coverage needs of your clients, this guide can give you reliable options.
The top cyber insurance companies in the USA
1. Chubb
Direct premiums written: $560.63 million
Market share: 7.9%
Swiss industry giant Chubb is not only the number one carrier among the top 10 cyber insurers in the US, it’s also among the largest insurance companies in the world. Its country headquarters is in Whitehouse Station, New Jersey. Chubb offers three products under its cyber insurance portfolio. These are:
This is designed for businesses that handle or manage sensitive customer or employee data, third-party corporate information, or computer networks. This policy offers customizable coverage to suit each enterprise’s varying needs and exposure. Among the types of businesses that benefit from Cyber ERM are those in healthcare, retail, and financial services.
This policy is designed for companies that offer digital technology services such as computer and IT consulting, software and app development, and data processing.
This provides general liability and first-party cyber coverage for a range of errors and omissions (E&O), media, data security and privacy, and intellectual property infringement issues. Target clients include tech, manufacturing, life sciences, and clean tech firms, as well as federal government contractors.
2. Travelers Group
Gross written premiums: $535.43 million
Market share: 7.6%
Travelers is among the top choices for small businesses because of its practical coverage and support services, such as breach notification assistance and employee cyber awareness training. The company continues to enhance its cyber insurance offerings, focusing on helping organizations respond to data breaches, manage evolving threats like social engineering, and comply with regulatory requirements. Its main cyber insurance products include:
3. Fairfax Financial Holdings
Direct premiums written: $360.58 million
Market share: 5.1%
Toronto-based financial holding firm Fairfax Financial offers a range of property and casualty insurance and reinsurance products, as well as investment and insurance claims management services. The company offers cyber insurance policies to US businesses through its several subsidiaries, including:
4. Tokio Marine HCC
Direct premiums written: $355.98 million
Market share: 5.0%
Japanese industry giant Tokio Marine Group offers specialty insurance policies in the US, the UK, Spain, and Ireland through its subsidiary Tokio Marine HCC. Its US-based insurance arm holds its headquarters in Houston, Texas.
Tokio Marine HCC’s Cyber Security Insurance policy provides first-party and liability protection for up to $25 million on a primary and excess basis. Coverage includes cybercrime prevention, crisis response, and post-incident expertise.
Tokio Marine HCC's Cyber & Professional Lines Group (CPLG) is included in Insurance Business America’s list of the top cyber insurance companies in the US.
5. AXA XL
Direct premiums written: $340.45 million
Market share: 4.8%
As one of the top cyber insurance companies in the US, AXA XL offers a wide range of coverage options tailored to the needs of mid-sized and large organizations. It also provides cyber insurance policies for small businesses in the technology and professional services sectors.
AXA XL’s flagship cyber insurance policy, called CyberRiskConnect, provides tailored cyber protection for businesses in different industries. Coverage includes:
Policyholders can also access a range of risk mitigation services from AXA XL partners, including:
CyberRiskConnect provides up to $15 million worth of coverage available on a primary or excess basis.
AXA XL also holds partnerships with Microsoft and Slice Labs in an initiative aimed at helping protect users of Microsoft’s digital tools.
6. Arch Capital
Direct premiums written: $285.03 million
Market share: 4.0%
Arch Insurance’s cyber coverage has a limit of up to $20 million for any one risk. Among the industries the policy caters to are:
Its flagship cyber insurance policy, called Arch Netsafe 2.0, includes the following features and benefits:
7. At-Bay Specialty Insurance Company
Direct premiums written: $280.60 million
Market share: 4.0%
At-Bay is counted among the top cyber insurance companies focused on leveraging technology and real-time risk assessment to help businesses manage evolving cyber threats. Recently, At-Bay released its InsurSec Rankings Report, highlighting that email and remote access vulnerabilities accounted for 90 percent of cyber claims. The report noted a surge in AI-driven email fraud and ransomware attacks.
The company emphasizes managed detection and response (MDR) as a critical control for reducing losses and continues to innovate by integrating security insights into its underwriting and claims process.
Its cyber insurance products include:
8. American International Group (AIG)
Direct premiums written: $276.56 million
Market share: 3.9%
AIG remains one of the top commercial cyber insurance providers in the US and is known for its broad portfolio and advanced risk analytics. The company has shifted its focus on adapting its underwriting and claims processes to address the surge in AI-driven threats and supply chain risks. This is not exclusive to AIG, as other cyber insurance providers have worked to address these threats too, and it's one of many major cyber insurance industry trends.
AIG's cyber insurance solutions for companies are often recommended by cyber insurance brokers for large enterprises and regulated industries due to their comprehensive coverage and global reach.
These are AIG’s cyber insurance policies:
9. Sompo
Direct premiums written: $262.73 million
Market share: 3.7%
Sompo is a prominent global cyber insurance provider, focusing on supporting both large enterprises and small businesses. Sompo recently expanded its cyber insurance offerings, including the launch of a new maritime cyber insurance product to address rising threats in the shipping sector.
The company’s US cyber team emphasizes practical risk management, vendor partnerships, and layered security to help clients prevent and recover from cyberattacks. Its commonly used cyber insurance products include:
10. Starr International Co.
Direct premiums written: $255.08 million
Market share: 3.6%
Starr is a major global insurance provider with a growing presence in cyber insurance. To boost its cyber insurance segment, Starr acquired IQUW Group, a specialty (re)insurer with strong data analytics and technology capabilities.
This move is set to expand Starr’s underwriting classes and enhance its specialty insurance offerings, including cyber, across global markets. The acquisition is set to position Starr as the ninth-largest managing agency at Lloyd’s, enhancing its ability to serve clients with complex cyber risk needs.
Starr’s cyber insurance products include:
Cyber insurance is a type of insurance policy designed to cover financial losses stemming from cyber incidents. Generally, this form of coverage offers two types of protection:
This policy pays out for the financial losses a business incurs because of a cyber incident, including:
Most first-party policies also cover the cost of notifying clients about the cyber incident and providing them with anti-fraud services.
Also referred to as liability coverage, this type of policy provides financial protection against lawsuits filed by third parties – such as customers, employees, and vendors – for damages caused by a cyberattack on their businesses. It typically covers court and settlement fees, as well as regulatory expenses and fines.
We interviewed Deborah Dioguardi, executive vice-president for professional lines and national practice leader of Jencap, for the answers. She said: “The importance of cyber liability Insurance is to provide protection to companies against financial losses arising from a data breach including phishing attacks, theft of confidential information and ransomware payments.
In today’s age, all businesses rely on technology. The use of technology creates risks. Everyday tools like emails, social media platforms, and online payment platforms expose businesses to cyber criminals.”
Some brokers who are less tech-savvy or cater to sectors that aren’t harnessing the internet or digital tools may hesitate to carry or recommend cyber insurance. However, this attitude is changing rapidly. Cyber risk is now relevant to nearly every business, regardless of size or industry, due to the widespread use of email, digital records, and internet-connected devices.
“I would recommend that all businesses purchase cyber liability insurance," Dioguardi explains. "Whether you are a small or large business, the use of technology is required to operate your business.”
“When dealing with data breaches, a carrier needs to be quick and efficient in their response. The trigger of a cyber liability policy is not a claim being made against a company, but an actual data breach occurring.”
An experienced insurance agent or broker can guide you in your search for the cyber coverage that best fits your needs. To find reliable and trustworthy insurance professionals, we recommend that you check out our Best in Insurance America page.
If you find this piece informative, you can learn more about this type of coverage and related topics on our cyber insurance news section.
