Cyber insurance
Allied World vs Sompo cyber insurance
Allied World and Sompo side by side for the same revenue and limit, from the tables on their proposal forms.
Which is cheaper
Of the 20 revenue and limit examples both price on our pages, Allied World's Standard Plan was cheaper on 20, Sompo's on 0.
Allied World: S$1,000.00 excess a claim, business interruption after 8 hours, limits of S$250,000, S$500,000, S$1,000,000, S$2,000,000, and a Premier Plan at 50% more. Sompo: S$1,000.00 excess a claim, business interruption after 8 hours, limits of S$250,000, S$500,000, S$1,000,000, S$2,000,000, and a Premier Plan at 50% more.
Price for each revenue and limit
| Example | Allied World | Sompo |
|---|---|---|
| S$1m revenue, S$250k limit | S$981.00S$1,000.00 excess | S$1,021.88S$1,000.00 excess |
| S$1m revenue, S$500k limit | S$1,308.00S$1,000.00 excess | S$1,348.88S$1,000.00 excess |
| S$1m revenue, S$1m limit | S$1,635.00S$1,000.00 excess | S$1,689.50S$1,000.00 excess |
| S$1m revenue, S$2m limit | S$2,071.00S$1,000.00 excess | S$2,139.13S$1,000.00 excess |
| S$3m revenue, S$250k limit | S$1,308.00S$1,000.00 excess | S$1,348.88S$1,000.00 excess |
| S$3m revenue, S$500k limit | S$1,635.00S$1,000.00 excess | S$1,689.50S$1,000.00 excess |
| S$3m revenue, S$1m limit | S$1,962.00S$1,000.00 excess | S$2,030.13S$1,000.00 excess |
| S$3m revenue, S$2m limit | S$2,507.00S$1,000.00 excess | S$2,588.75S$1,000.00 excess |
| S$5m revenue, S$250k limit | S$1,526.00S$1,000.00 excess | S$1,580.50S$1,000.00 excess |
| S$5m revenue, S$500k limit | S$1,962.00S$1,000.00 excess | S$2,030.13S$1,000.00 excess |
| S$5m revenue, S$1m limit | S$2,398.00S$1,000.00 excess | S$2,479.75S$1,000.00 excess |
| S$5m revenue, S$2m limit | S$3,052.00S$1,000.00 excess | S$3,147.38S$1,000.00 excess |
| S$10m revenue, S$250k limit | S$2,289.00S$1,000.00 excess | S$2,370.75S$1,000.00 excess |
| S$10m revenue, S$500k limit | S$2,943.00S$1,000.00 excess | S$3,038.38S$1,000.00 excess |
| S$10m revenue, S$1m limit | S$3,597.00S$1,000.00 excess | S$3,719.63S$1,000.00 excess |
| S$10m revenue, S$2m limit | S$4,578.00S$1,000.00 excess | S$4,727.88S$1,000.00 excess |
| S$20m revenue, S$250k limit | S$3,161.00S$1,000.00 excess | S$3,270.00S$1,000.00 excess |
| S$20m revenue, S$500k limit | S$4,251.00S$1,000.00 excess | S$4,387.25S$1,000.00 excess |
| S$20m revenue, S$1m limit | S$5,341.00S$1,000.00 excess | S$5,518.13S$1,000.00 excess |
| S$20m revenue, S$2m limit | S$7,085.00S$1,000.00 excess | S$7,316.63S$1,000.00 excess |
Both insurers' plans for S$3m revenue, S$500k limit
| Insurer | A year | Limit of liability | Excess on every claim | Business interruption | Revenue band |
|---|---|---|---|---|---|
| Allied WorldCyber Liability Insurance Standard Plan, S$500,000 limit | S$1,635.00 | S$500,000 | S$1,000.00 | After an 8-hour wait | S$1,000,001 to S$3,000,000 |
| SompoSME Data & Cyber Security Insurance Standard Plan, S$500,000 limit | S$1,689.50 | S$500,000 | S$1,000.00 | After an 8-hour wait | S$1,000,001 to S$3,000,000 |
| Allied WorldCyber Liability Insurance Premier Plan, S$500,000 limit | S$2,452.50 | S$500,000 | S$1,000.00 | After an 8-hour wait | S$1,000,001 to S$3,000,000 |
| SompoSME Data & Cyber Security Insurance Premier Plan, S$500,000 limit | S$2,534.25 | S$500,000 | S$1,000.00 | After an 8-hour wait | S$1,000,001 to S$3,000,000 |
Questions people ask
Is Allied World or Sompo cheaper for cyber insurance?
Of the 20 revenue and limit examples both price on our pages, Allied World's Standard Plan was cheaper on 20, Sompo's on 0.
How do their terms differ?
Allied World: S$1,000.00 excess a claim, business interruption after 8 hours, limits of S$250,000, S$500,000, S$1,000,000, S$2,000,000, and a Premier Plan at 50% more. Sompo: S$1,000.00 excess a claim, business interruption after 8 hours, limits of S$250,000, S$500,000, S$1,000,000, S$2,000,000, and a Premier Plan at 50% more.
How do I buy it?
Each insurer sells through intermediaries, so a broker places it: Apply Now opens the insurer’s own proposal form on our site, filled in from your answers. The form asks about your business, the data you hold, your security controls and your loss history, and the insurer confirms the premium. Ask Shenton to arrange sends us the plan you picked and we arrange it for you.