Cyber insurance
Great American vs Sompo cyber insurance
Great American and Sompo side by side for the same revenue and limit, from the tables on their proposal forms.
Which is cheaper
Of the 15 revenue and limit examples both price on our pages, Great American's Standard Plan was cheaper on 15, Sompo's on 0.
Great American: S$5,000.00 deductible a claim, business interruption after 12 hours, limits of S$250,000, S$500,000, S$1,000,000. 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 | Great American | Sompo |
|---|---|---|
| S$1m revenue, S$250k limit | S$981.00S$5,000.00 excess | S$1,021.88S$1,000.00 excess |
| S$1m revenue, S$500k limit | S$1,308.00S$5,000.00 excess | S$1,348.88S$1,000.00 excess |
| S$1m revenue, S$1m limit | S$1,635.00S$5,000.00 excess | S$1,689.50S$1,000.00 excess |
| S$3m revenue, S$250k limit | S$1,308.00S$5,000.00 excess | S$1,348.88S$1,000.00 excess |
| S$3m revenue, S$500k limit | S$1,635.00S$5,000.00 excess | S$1,689.50S$1,000.00 excess |
| S$3m revenue, S$1m limit | S$1,962.00S$5,000.00 excess | S$2,030.13S$1,000.00 excess |
| S$5m revenue, S$250k limit | S$1,526.00S$5,000.00 excess | S$1,580.50S$1,000.00 excess |
| S$5m revenue, S$500k limit | S$1,962.00S$5,000.00 excess | S$2,030.13S$1,000.00 excess |
| S$5m revenue, S$1m limit | S$2,398.00S$5,000.00 excess | S$2,479.75S$1,000.00 excess |
| S$10m revenue, S$250k limit | S$2,289.00S$5,000.00 excess | S$2,370.75S$1,000.00 excess |
| S$10m revenue, S$500k limit | S$2,943.00S$5,000.00 excess | S$3,038.38S$1,000.00 excess |
| S$10m revenue, S$1m limit | S$3,597.00S$5,000.00 excess | S$3,719.63S$1,000.00 excess |
| S$20m revenue, S$250k limit | S$3,161.00S$5,000.00 excess | S$3,270.00S$1,000.00 excess |
| S$20m revenue, S$500k limit | S$4,251.00S$5,000.00 excess | S$4,387.25S$1,000.00 excess |
| S$20m revenue, S$1m limit | S$5,341.00S$5,000.00 excess | S$5,518.13S$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 |
|---|---|---|---|---|---|
| Great AmericanCyber Insurance for Small & Medium Enterprises, S$500,000 limit | S$1,635.00 | S$500,000 | S$5,000.00 | After a 12-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 |
| 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 Great American or Sompo cheaper for cyber insurance?
Of the 15 revenue and limit examples both price on our pages, Great American's Standard Plan was cheaper on 15, Sompo's on 0.
How do their terms differ?
Great American: S$5,000.00 deductible a claim, business interruption after 12 hours, limits of S$250,000, S$500,000, S$1,000,000. 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.