Corporate offices in Panama City at night
Risk

Cyber insurance

Protection for your company against financial, operational, and reputational losses caused by digital attacks or security breaches.

A pure cyber event usually doesn’t burn a building or injure a third party. It stops billing, encrypts servers, exposes customer data, and triggers forensic, legal, and notification costs. Commercial cyber insurance is a policy for businesses — not a consumer product — for first-party losses (your operations) and third-party claims (customers, vendors, regulators). Traditional lines (GL, property, fidelity) often aren’t enough on their own.

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Mint Group · Commercial brand of Pledge Co, S.A. · SSRP PJ 995
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Ideal for
Professional servicesClinicsRetailHospitalityLight manufacturingLogisticsTech

What your policy can cover

01
Data and network liability
Claims from customers or partners if confidential data was stolen or exposed, or if a failure in your security allowed unauthorized access.
02
Defense and regulatory sanctions
Defense costs, official investigations, and, when the policy contemplates it, certain fines — relevant under Panama’s Personal Data Protection Law.
03
Digital media liability
Claims for defamation, plagiarism, or copyright infringement on your website or social channels.
04
Business interruption
Lost net profit and expenses if operations stop because of a cyberattack (there is usually a waiting period).
05
Cyber extortion (ransomware)
Crisis-management and advisory costs and, under certain conditions and with the insurer’s prior authorization, ransom payment.
06
Data recovery and crisis management
Costs to restore digital information deleted or damaged in an incident, public-relations support, and forensic analysis to understand how the failure happened.

What to prepare before you quote

Quoting is straightforward: you complete a questionnaire (short or standard, depending on the case) and we shop the market with your real information. Market quoting is free. Completing a questionnaire does not bind a policy.

+Legal name, website, business description, and annual revenue
+Security contact (or whoever owns that hat)
+How you handle backups and MFA
+Incidents in recent years
+Contracts that already demand cyber or minimum limits

When your policy responds

Ransomware encrypts your servers
Cyber extortion can cover crisis management, advisory costs and, with the insurer’s prior written consent and police notice, the ransom payment. Do not pay without telling the insurer.
Customer data is exposed
Data and network liability responds to claims from customers or partners, and regulatory coverage to defense costs and official investigations.
Operations stop
Business interruption covers lost net profit and expenses when a cyberattack stops operations, usually after a waiting period.

Frequently asked questions

What people ask us most about this coverage.

Is cyber insurance mandatory in Panama?
There is no general private-sector mandate. Some contracts do require it.
Will my GL or property policy cover ransomware?
Usually not adequately. GL looks for injury or tangible damage; property looks for physical damage. Cyber responds to the digital event and your first-party costs.
Does it cover paying a ransom?
It can, as cyber extortion, if the policy contemplates it — with prior written insurer consent and conditions (including police notice). Do not pay without telling the insurer.
Is this only for multinationals?
No — SMEs too. There are streamlined processes and short questionnaires depending on industry and size; larger risks use a standard proposal.
Let’s design your coverage.
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This content is general and informational. Coverages, limits and exclusions are governed by the conditions of each policy and carrier.
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