Cyber Insurance for Businesses in Switzerland
Cyber attack on your SME: are you insured?
In 2024, Switzerland's Federal Office for Cybersecurity (BACS) recorded 64'733 voluntary reports – equivalent to 172 reports per day. Attacks are becoming increasingly sophisticated: criminals are making growing use of artificial intelligence to make fraud attempts deceptively convincing. The issue is not limited to large corporations; small and medium-sized enterprises (SMEs), which typically do not have their own cyber department to mitigate any damage, are also frequently targeted.
SMEs are practically defenceless in these cases, and data recovery (not to mention the prevention of future attacks) can be expensive and complex. This is where cyber insurance comes in. It covers the costs so that qualified experts can take the necessary steps to restore data and protect company systems.
In addition to protecting your business, it is also worth considering your private situation. With the increasing use of digital technologies, risks are also emerging in this area. You can find out more in our article on cyber insurance for private individuals.
Cyber insurance for businesses in Switzerland: overview of services
Cyber insurance solutions are modular and adapt to the individual needs of your business. They are a key form of protection against cybersecurity risks and cover a variety of areas relevant to your operations.
The insurance covers loss and damage suffered due to data loss, damage to systems, data theft and extortion. In the event of a claim, IT experts will take care of data recovery. Additionally, a specialised team will be on hand to help prevent loss and damage in cases of extortion.
In an emergency or crisis situation, you will receive support in assessing the threat and recommendations for damage limitation.
In the event of a hacker or DDoS attack* that paralyses your production site, website, online shop or payment system, the insurance will cover the resulting loss of income.
If one of your customers is harmed by malware that you unknowingly spread (e.g. via an infected link or attachment in an e/mail), cyber insurance will cover the resulting costs. You can also rely on a team of experts to defend you against any unjustified accusations.
Defamatory posts about your business will be taken down quickly with the help of a specialised lawyer. If your business suffers financial loss or damage as a result of a post, a specialised lawyer will assert your claims for compensation.
IT assistance for SMEs: It’s not only hacker attacks that can affect your IT systems. A team of qualified experts are available to help you with a range of other IT problems (printer not working, black screen, etc.).
With the supplementary CyberCrime-Social Engineering module, you’ll also be protected against loss and damage from identity theft.
* A distributed denial-of-service (DDoS) attack refers to the overload of an online resource by a high volume of simultaneous requests. The goal is to disrupt or paralyse the availability of the website by overloading its processing capacity.
What does a cyber attack really cost an SME?
The costs of a cyber attack often exceed expectations – and go far beyond IT infrastructure alone. According to the Swiss Insurance Association (SIA), a successful ransomware attack costs a Swiss SME an average of CHF 84,000 – with an upward trend. Typical cost items include:
IT forensics & data recovery: tens of thousands of francs depending on the scope
Business interruption: depending on the sector, several days to weeks of lost revenue
Reputational damage and customer loss: long-lasting and difficult to quantify
Legal and notification costs in the event of data breaches under Swiss data protection law (nFADP)
Ransom demands in ransomware cases: often five- to six-figure amounts
Cyber insurance covers exactly these costs and provides immediately available experts who are reachable around the clock.
Let's find out together which cyber modules suit your business.
Cyber insurance for the self-employed
Self-employed individuals can also take out cyber insurance, as can those who engage in self-employment as a secondary occupation (provided their annual turnover does not exceed a certain amount, for example CHF 20,000). The conditions for taking out insurance vary depending on the insurance provider. We will be happy to help you find the product that suits your circumstances. Discover our other insurance solutions for businesses in Switzerland.
Employee training: the first line of defence against cyber attacks
The most common cause of cyber incidents is human error. Carelessly clicking on links in an e-mail or opening attachments can cause severe damage to a company’s IT infrastructure, which is why it’s important to ensure your employees are properly trained in terms of IT security. Some insurance providers offer special cyber training programmes for businesses. If you are interested, we will be happy to put you in touch with them.
You can also increase IT security at your company by keeping abreast of the latest threats and making sure you receive regular security reports. Contact us if you want to find out more about the options available.
Risk analysis before you sign a contract
Before you take out cyber insurance, our experts will sit down with you to conduct a risk analysis of your business and decide which modules are relevant. Take advantage of this offer and protect your company in case of an emergency. Schedule a risk analysis consultation now. If you have any questions, you can reach us by phone on 034 422 70 24 or by e-mail at burgdorf@unionsb.ch.
This article was revised and updated in June 2026.
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