Report: Cyber liability insurance costs up slightly

The average cost of a cyber liability insurance policy in New Hampshire rose slightly in 2020, according to a recently released report from AdvisorSmith, the insurance research firm.

According to AdvisorSmith, the average premium in 2020 for a New Hampshire business was $1,431 for $1 million in cyber liability coverage with a $10,000 deductible for a business rated as a moderate risk and with $1 million in revenue. In 2019, the cost was about 1% lower, with a $1,416 average premium.

The state average was still about 3.5% lower than the 2020 national premium average of $1,485 per year, although the national average declined about 1% from 2019.