Insurance Products
Cyber Risk Insurance
Cyber risk insurance provides financial protection against data breaches, ransomware attacks, system outages and the legal liability that follows.
At a glance
- Status
- Optional
- Core cover
- 6 sections
- Quote turnaround
- Same business day
The cost of a cyber attack is rarely a single line item. A ransomware incident simultaneously triggers forensic investigation, data recovery, revenue loss during downtime, notification of affected customers and potential litigation. Cyber policies are designed to address all of these under one roof.
Every business acting as a data controller under Türkiye's KVKK faces notification obligations and administrative sanctions in the event of a personal data breach. Cyber policies cover breach response management, legal advice and defence costs. Whether administrative fines themselves are insurable depends on local law and must be checked explicitly in the wording.
The most valuable element is often the incident response service. Forensic, legal and communications teams mobilised at the moment of attack prevent the loss from escalating. Insurers require minimum controls at underwriting: multi-factor authentication, regular backups and endpoint protection.
What Is Covered
- Data breach response
- Covers forensic investigation, breach notification and services for affected individuals.
- Ransomware
- Covers ransom demands, negotiation support and the cost of restoring systems.
- Cyber business interruption
- Compensates revenue and profit lost while operations are halted by an attack.
- Third party liability
- Covers claims from customers and partners affected by a data breach.
- Regulatory defence costs
- Covers legal defence costs in KVKK and similar regulatory investigations.
- Reputation management
- Covers crisis communications and public relations consultancy costs.
Who Is It For?
- E-commerce and retail firms processing customer data
- Healthcare providers, clinics and laboratories
- Software, technology and SaaS companies
- Financial, accounting and consultancy service providers
What Is Not Covered
- Known and previously reported security vulnerabilities
- Physical hardware damage (covered by electronic equipment policies)
- Intentional acts of the insured and deliberate insider sabotage
- Claims arising from patent and intellectual property infringement
What Affects the Price
Premiums vary between insurers according to the factors below. We compare 27 partner insurers to find the best fit for your profile.
- Annual turnover and volume of personal data processed
- Sector and sensitivity of the data held
- Existing security controls (MFA, backups, EDR)
- Requested coverage limit and deductible
Frequently Asked Questions
Are KVKK fines covered?
Defence and legal advisory costs are covered. Insurability of administrative fines depends on legislation and must be verified in the wording.
Do small businesses need cyber insurance?
Yes. A large share of ransomware attacks target SMEs, which typically have less recovery capacity.
What security controls do insurers require?
Multi-factor authentication, regular isolated backups, current endpoint protection and access management are the most commonly required.
Is a ransom payment covered?
Many policies cover ransom payment and negotiation. Legal restrictions and sanctions lists may limit this cover.