Digitization is a blessing for businesses in Germany, but it also brings entirely new risks. A single wrong click on an email attachment, a security vulnerability in software, or a targeted hacker attack, and suddenly, everything stops. Your data is encrypted, client information ends up on the darknet, and your business is at a standstill. Cyber Insurance is as essential today as fire insurance for your business premises.
Key Facts at a Glance
| What is covered | Costs for IT forensics, data recovery, crisis communication and business interruption after a cyber attack, plus third-party liability claims, for example after a data leak. |
|---|---|
| What is not covered | Damage caused by missing agreed security measures, known vulnerabilities, war and state-sponsored attacks, and upgrading your IT. Details |
| Who needs it | For every business with customer data, an online shop or digital dependency, including solo self-employed people. |
| What does it cost | For micro businesses usually around €200 to €500 per year; for small and medium-sized businesses several thousand euros depending on turnover. Non-binding guide value (as of 2026); your premium depends on your situation. I will gladly prepare a non-binding quote for you: get in touch. |
| What to look out for | Meet obligations such as backups and two-factor login, a 24/7 crisis hotline, and include business interruption and social engineering. |
The Story of Alex: When a Monday Morning Becomes a Nightmare
Fictional example for illustration; all persons and events are invented.
Alex is a freelance designer from the UK living in Munich. One Monday morning, he tried to open his project files, but all he saw was a message: "Your files are encrypted. Send 1 Bitcoin to this address to get your data back."
A so-called ransomware attack had paralyzed his entire business. All current projects, accounting, client data, everything was locked. Alex first tried to restore the backups himself, but they were also infected. Every day of standstill cost him money and threatened his reputation with clients.
Fortunately, Alex had taken out a Cyber Insurance policy through me. He called the 24/7 emergency hotline. Within two hours, specialized IT forensic experts were active via remote access. They isolated the virus, cleaned the systems, and helped restore the data. The insurance covered both the IT forensic specialists and compensation for the loss of income during the downtime. Alex says today: "I used to think cyberattacks only hit large corporations. But we small freelancers are much easier targets. Without cyber insurance, my business would be history today."
Why Every Business is a Target
Hackers today work automatically. They scan the internet for vulnerabilities, regardless of whether it's a global corporation or a small freelance operation. The motives are diverse: extortion (ransom), theft of intellectual property, or simply sabotage.
Cyber insurance provides protection in three areas:
- First-party damage coverage: Costs for IT forensics, data recovery, business interruption, and crisis management.
- Liability coverage: Protection against third-party claims if you accidentally send viruses to clients or violate data protection rights (GDPR).
- Service benefits: Immediate help from experts in case of emergency, often the most valuable part of the insurance.
Prevention and Help: More Than Just Money
As your broker with a deep technical background, I understand both worlds. A good cyber insurance policy helps you even before any damage occurs. Many providers offer training for employees or security scans of your systems.
In an emergency, reaction speed is important. Cyber insurance provides you with a team of lawyers, IT specialists, and PR consultants to keep the damage to your business as low as possible.
Cyber-Check: What risk is your business exposed to?
Calculate the potential costs of a successful cyber attack on your business. The estimate includes IT forensics, data recovery, legal advice, and loss of revenue.
Your Business
High: Retail, IT, Healthcare, Finance.
Requirements for Expats
- German Business Registration (Gewerbeanmeldung or Freelance Tax ID)
- German Business Address
- German Bank Account (IBAN)
What Is Not Covered
Cyber insurance helps quickly in an emergency. However, these points are often excluded:
- Missing security measures: If the contract requires backups, updates or two-factor login and they are missing, the insurer may reduce benefits.
- Known vulnerabilities: Damage from known but unpatched vulnerabilities is often excluded.
- War and state-sponsored attacks: Many policy conditions exclude attacks connected with acts of war.
- IT improvements: The insurance restores the previous state but does not pay for better IT.
How I Help You in the Event of a Claim
As your broker, I am legally on your side, not the insurer's, and that matters most when something happens. This is how we proceed:
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1. Report it quickly
Let me know as soon as possible, by WhatsApp, phone, email or directly in the simplr app. Many policy conditions require prompt notification.
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2. Document everything
Keep photos, invoices, reports and the names of everyone involved. Good documentation speeds up processing considerably. How to write the claim report.
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3. Call the crisis hotline immediately
In an attack, call the insurer's crisis hotline immediately, before you reinstall systems or pay a ransom. The experts secure evidence and limit the damage.
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4. I take care of the rest
I submit the case to the insurer, follow up and check the settlement. If the insurer refuses or cuts benefits, we look at the reasons together. What to do after a denial.