Founder Shield vs Insureon: How Do They Compare for Cyber Insurance?

Founder Shield is a retail insurance brokerage, described on its site as “the innovation arm of The Baldwin Group,” and places Founder Shield Cyber Liability Insurance with third-party carriers rather than underwriting the policy itself. ⁷Company-reported. About-us page; applies to Founder Shield's brokerage model generally, restated here for this line.

Insureon markets cyber insurance and offers online quote requests for small businesses. ¹⁰Company-reported. Insureon’s public marketing page and quote route documents this description. It does not establish the issuing insurer for an individual quote, exact state or provincial availability, the policy form, complete exclusions, or terms offered to a particular buyer; confirm those in the quote and policy documents.

Founder Shield says it places policies, including Founder Shield Cyber Liability Insurance, only with carriers rated A- or better by AM Best, chosen for the client's industry. It does not name the issuing insurer for this line; that depends on which carrier the policy is placed with. ³Company-reported. General carrier-selection FAQ, not specific to this line's placements.

Confirm in your quote.

Founder Shield calls cyber coverage a priority for healthcare, financial services, SaaS and e-commerce companies, citing their exposure to data breaches and business interruption. ⁶Company-reported. Cyber Liability product page.

The page identifies businesses holding sensitive information and businesses responsible for client cybersecurity as relevant audiences; carrier eligibility is not disclosed. ¹⁰Company-reported. Insureon’s public marketing page and quote route documents this description. It does not establish the issuing insurer for an individual quote, exact state or provincial availability, the policy form, complete exclusions, or terms offered to a particular buyer; confirm those in the quote and policy documents.

Founder Shield lists loss or damage to electronic data, income loss and extra expense from a system outage, cyber extortion payments, and breach-notification and reputation-management costs as the branches of cyber coverage it places. ⁶Company-reported. Product page; the issued policy and declarations control actual coverage.

Founder Shield says cyber policies typically exclude loss of value from stolen IP, internal technology system upgrades, and possible future lost profits. ⁶Company-reported. Product page; specific exclusions depend on the issued policy.

The page describes first-party breach-response costs and third-party liability as distinct cyber exposures, and notes that they may be packaged differently. ¹⁰Company-reported. Insureon’s public marketing page and quote route documents this description. It does not establish the issuing insurer for an individual quote, exact state or provincial availability, the policy form, complete exclusions, or terms offered to a particular buyer; confirm those in the quote and policy documents.

Confirm in your quote.

The cited public overview does not establish the limits, deductibles, exclusions or form terms that would apply to a specific buyer. ¹⁰Not publicly disclosed. Ask for the quote and specimen or issued policy forms before treating a listed feature as covered.

You request Founder Shield Cyber Liability Insurance through Founder Shield's website or an insurance advisor rather than binding coverage directly; Founder Shield says its placement team then approaches carriers on the client's behalf. ^7,3Company-reported. About-us and carrier-selection pages describe the general placement process, not a line-specific application form.

The cited Insureon product page provides an online quote request path; that route does not identify the insurer or guarantee that a quote will be offered or bound. ¹⁰Company-reported. Insureon’s public marketing page and quote route documents this description. It does not establish the issuing insurer for an individual quote, exact state or provincial availability, the policy form, complete exclusions, or terms offered to a particular buyer; confirm those in the quote and policy documents.