5 Cyber Insurance Options For The Midmarket
“Midmarket organizations must view cyber insurance not as a luxury, but as a strategic necessity,” one insurance executive said.
Cybersecurity “is a legal issue,” midmarket IT executives were told by attorney Shawn Tuma, partner and co-chair, Data Privacy & Cybersecurity Practice Group, at Spencer Fane LLP at the Midsize Enterprise Summit IT Security, last year.
That’s why cyber insurance has become a very big deal. As many experts will attest, cyber insurance is no longer a luxury, but a must-have for organizations of all sizes.
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Cyber insurance is a contract, Tuma said at the event. "Every policy from different carriers is different," he said. It's "absolutely foolish" for IT decision-makers not to be intimately engaged in the process of selecting cyber insurance.
MES Computing researched several cyber insurance carriers to find out which had a specific focus on the midmarket.
Here are five midmarket-focused cyber insurance providers midmarket IT leaders may want to consider.
Cyber Insurance For The Midmarket: The Larger Insurers
These insurance providers are mostly known for providing car insurance. In fact, they all made the National Association of Insurance Commissioners’ 2025 list of the Top 25 Private Passenger Auto Insurers.
However, the insurers listed here also offer business cyber insurance.
Liberty Mutual announced its flexible cyber liability insurance packages for small-to-mid-sized businesses in 2014.
Since then, the insurer has offered coverage related to data breaches, attack and extortion, and network security liability.
In addition to providing an enterprise cyber insurance product, Nationwide also says it provides “loss prevention services and tools, breach response and remediation expertise,” according to its website.
Nationwide covers public and private companies across the U.S., Canada, Puerto Rico, and the U.S. Virgin Islands.
The company covers up to $25 million in losses related to network security, data privacy breaches, media, business income and more.
Travelers is another major insurer in the U.S. and the only one among the big insurers MES Computing contacted to speak to how their cyber insurance is a fit for midmarket organizations.
“Travelers cyber insurance is a strong fit for middle-market businesses due to its tailored coverage and proactive risk management. In an era where cyber threats are becoming more severe, even for smaller businesses, it’s important to not only have reliable and robust coverage, but also a proactive partner in risk management. In addition to providing exceptional insurance protection and extensive policyholder support and value through its Cyber Risk Services, Travelers offers policyholders continuous threat monitoring, advanced cyber tools and expert guidance to help predict and prevent cyber risks,” the company said in a statement to MES Computing.
While there may be a certain comfort level in having one of the largest providers of insurance as your cyber insurance provider, there may be some trepidation among IT executives to have the same company that may insure their personal vehicles also insuring their company’s cybersecurity.
There are other insurers that may be smaller than the bigger players in the space but make a good case as to why they are a fit as a midmarket cyber insurance choice.
Other Cyber Insurance Providers For The Midmarket
Allianz provides data breach liability for both personal and corporate data, according to its site. The company also covers network security liability, in cases of being hijacked by ransomware, for example, or a network compromised by a DDoS attack.
The insurer also offers coverage for “media liability for digital publications. Business interruption caused by a cyber incident. Restoration costs for data and programs resulting from a cyber interruption. IT forensic support for crisis communication to mitigate reputational damage,” according to its website.
Coalition took the time to pinpoint why they are a fit for the midmarket as a cyber insurance provider.
“At a time when cyber threats are rapidly growing in volume and sophistication, midmarket organizations find themselves in a uniquely vulnerable position. They are attractive targets to threat actors, and their internal teams are stretched,” said John Roberts, General Manager, Security, Coalition, in a statement to MES Computing.
Roberts went on to explain the importance of cyber insurance for the midmarket and what Coalition offers.
“Coalition's cyber insurance and security offerings are tailored to organizations' unique security budgets and needs, providing a one-stop shop for businesses to access enterprise-level technologies and services. What makes cyber insurance essential for the midmarket is its dual role. First, active cyber insurance provides financial recovery and 24x7 expertise – technical and legal – in the wake of an incident. Second, Coalition’s cyber insurance includes active risk management,” he said.
That active risk management includes customized cyber risk assessments, real-time alerts about network vulnerabilities or security concerns, breach response planning, and access to expert digital forensics and incident response.
“In March 2025, we saw an unprecedented surge in ransomware attacks, and, in 2024, we observed that over half of these attacks (58 percent) were initiated through compromised VPN or firewall credentials – common vulnerabilities for organizations of all sizes. And the stakes are incredibly high: the average global cyber insurance claim amount in 2024 was $115,000 – a significant amount of money. This isn’t just about risk; it’s about survival. That’s why midmarket organizations must view cyber insurance not as a luxury, but as a strategic necessity” Roberts said.