Businesses today need cyber insurance that keeps pace with evolving threats. Traditional policies often fall short, leaving companies exposed to lengthy claim processes, outdated risk assessments, and rigid coverage structures.
Descartes’ Cyber Insurance is built to provide precision cover:
- Indemnification in days, not months or years, ensuring businesses recover quickly.
- A proprietary risk model, leveraging our exclusive data-driven approach for precise underwriting.
- Tailored solutions, adapting payment structures to fit each company’s business model.
With Descartes, businesses gain a cyber insurance solution designed for speed, accuracy, and flexibility—helping them mitigate risk and recover faster.
Who Should Consider This?
Our solutions are designed for European mid-sized to large-sized companies looking to enhance their cyber resilience.
Capacity
Between €1Mn - €10Mn, or much higher with alternative structures (e.g. captives)
Key Features of Our Cyber Shutdown Cover
Coverage is fully tailored to our clients’ needs to optimize premium allocation
- Comprehensive Cyber Protection: Covers first party losses without exclusion, ranging from crisis management costs and business interruption to incident-induced costs of any nature.
- Covering the Uninsurable: Also protects against unconventional risks, such as contractual penalties and perishable goods losses, often excluded in traditional policies.
- Cyber Liability offered as an option
- Fits Any Cyber Program: Available as primary, excess (XS) coverage, or integrated into more sophisticated risk transfer structures like captives or virtual captives.
- Tailored Policies: Fully customizable coverage, including waiting periods, daily indemnity, and cyclical activity considerations.
Step 1: Incident Occurs
Call our dedicated 24/7 emergency line. Our experts will recommend emergency measures and let you know near real-time if coverage may apply.
Step 2: Crisis Resolution
Our experts support you until the full crisis resolution, including data restoration and rebuilding of systems.
Step 3: Submit Declaration of Loss
Provide required details within 30 days.
Step 4: Receive Payment
Claims processed swiftly, so your business can recover quickly.
Unmatched Benefits Powered by Descartes unique approach
While our Cyber Insurance is specifically tailored for cyber risks, it leverages the innovative principles of parametric insurance:
- Data-Driven Precision: Efficiently assess attack frequency and severity based on our proprietary and unique modelling approach
- Speed and Simplicity: Transparent triggers and minimal documentation enable faster claim payouts within days, minimizing downtime.
- Fair Pricing: Rewards cybersecurity improvements.
- Minimal Technical Requirements: Focuses on critical factors, such as data backup quality.
Helping Brokers Deliver Innovative Cyber Security Insurance Solutions
At Descartes, we partner with brokers to reshape cyber insurance underwriting and address emerging risks. Our broker-exclusive products, flexible commissions, and responsive service help you deliver innovative solutions to clients.
Our cover may be purchased as a primary cyber cover, or in excess of existing cyber programmes for increased protection of business interruption exposure.
We specialize in:
- Filling gaps in traditional cyber security insurance.
- Supporting customers struggling to find coverage or seeking alternatives.
- Designing covers for bespoke trade sectors: healthcare, transport, public entities, industry, Descartes Cyber Insurance modular design ensures each trade sectors’ specificities are efficiently captured to offer robust, simple cyber protection.
Partner with us to:
- Differentiate your offerings in RFPs.
- Reach untapped customer segments.
- Co-design tailored solutions and grow your portfolio.
FAQs
What is insured by Descartes?
We provide compensation for the costs incurred from cyber intrusions:
1. Incident & Response (I&R) Costs: systems restoration, data recovery, legal costs, crisis communication, etc.
2. Business interruption: losses linked to the shutdown of the whole company, or business units identified by the insured (factories, warehouses, retail stores, ...)
3. Cyber liability losses (optional)
How is Business Interruption (BI) assessed?
The calculation of Business Interruption is tailored to the insured's needs. For example, we can consider:
• Daily revenue from normal business activities, e.g. plant production, the sale of goods and services, alternative revenue streams, etc.
• Costs specific to the insured’s business model: contractual penalties, additional costs incurred to maintain operations, etc.
How fast is the indemnification after activity shuts down?
As soon as the Incident & Response expert certifies that the insured event has happened, the insured knows in real-time if coverage may apply.
The parametric indemnification is calculated after the end of the activity shutdown and Descartes sends payment within days instead of months/years in traditional insurance.
How does Descartes support the insured when a cyber attack is detected?
Descartes brings fully integrated technical support and swift indemnification for financial relief:
1. Initial contact with Incident & Response (I&R experts): The insured notices malicious activity within the IT system and calls I&R experts through the dedicated hotline available 24/7.
2. Event certification: I&R experts set up an incident resolution strategy and certify that the insured event has happened. The insured knows in real-time if coverage may apply.
3. End of shutdown certification: Once the incident is resolved and the company is ready to resume activity, experts certify that IT systems are online.
4. Parametric indemnification: Descartes calculates the parametric indemnity and sends payment within days.
5. Cyber liability indemnification (optional): Descartes indemnifies cyber liability claims separately, only if a cyber liability coverage has been bought.
Can we optimize coverage on premium allocations?
Descartes tailored solutions are - by design - fit for all kind of cyber insurance needs:
- Providing robust insurance at a fair price is at the core of Descartes’ priorities. Our data-driven modelling and scientific underwriting approach ensures objective pricing
- Descartes’ Cyber product design allows modularity to optimize value-for-money: brokers and insureds design exactly the required cover, with precision and cost-efficiency at the core of our approach
• Our clients can freely choose to purchase cyber liability coverage – or not - depending on their insurance needs.
• Our solution can fit all cyber programs, and be sold as primary, XS coverage or within more complex structures such as captives, virtual captives, etc.
Contact Us
Whether you're quoting a complex risk, looking to break into new markets, or just curious about parametric insurance, our team is here to help you win. Reach out and we will get back to you within 48 hours.
