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

Both are brokers: Mylo compares carriers for businesses that take cards, while Founder Shield places cyber through its website or an advisor for healthcare, finance, SaaS and e-commerce.

Founder Shield applies an A- AM Best floor to cyber placements. Mylo brokers cyber by comparing quotes from multiple carriers and says the coverage can often be added to a Business Owner's Policy depending on the carrier. ^3,⁴

What Are the Key Differences Between Founder Shield and Mylo Cyber Insurance?

An A- Floor Versus a Multi-Carrier Compare

Founder Shield places Founder Shield Cyber Liability Insurance only with carriers rated A- or better. Mylo brokers cyber by comparing quotes from multiple carriers rather than underwriting the policy, and it does not publish a matching rating screen. Choose Founder Shield if you want that A- sentence in the placement brief; choose Mylo if you want competing quotes and will ask whether cyber can sit on a Business Owner's Policy. ³ ⁴

Healthcare-SaaS Versus Card Data and a BOP Add-On

Founder Shield calls cyber a priority for healthcare, financial services, SaaS and e-commerce. Mylo markets to businesses that take credit cards or store customer information, citing its own figure that more than two-thirds of small businesses have experienced a cyberattack, and says cyber can often be added to a BOP alongside general liability, commercial property and business interruption. If you already buy a BOP through Mylo, that packaging claim is the difference. ¹ ⁴

Exclusions Versus Threat Names

Founder Shield lists typical exclusions: stolen-IP value, internal upgrades and possible future lost profits. Mylo names hacking, spear phishing, employee or partner data errors, and malware or ransomware as the threats the coverage is designed to address. Those lists do not cancel each other. Ask which exclusions survive on the Mylo form you are offered. ¹ ⁴

What Should You Confirm in Founder Shield and Mylo Cyber Insurance Quotes?

Ask Founder Shield which A-rated carrier it approached. ³
Ask Mylo which carriers can add cyber to a BOP for your class. ⁴
Neither page names the issuing insurer or publishes limits. ³ ⁴

Founder Shield vs Mylo Cyber Insurance Compared

Founder Shield vs Mylo: Cyber Insurance: documented features by provider

Criteria	Founder Shield Cyber Liability Insurance	Mylo Cyber Insurance
Who It’s For	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. ¹Company-reported. Cyber Liability product page.	Mylo markets cyber insurance to businesses that take credit cards or store customer information, citing its own figure that more than two-thirds of small businesses have experienced a cyberattack. ⁴Company-reported. Cyber insurance product page; a company-reported statistic, not independently verified.
Coverage Features	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. ¹Company-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. ¹Company-reported. Product page; specific exclusions depend on the issued policy.	Mylo says cyber coverage can pay non-legal costs (breach investigation, customer notification, crisis-management and PR help, lost income, ransom reimbursement, and data restoration) as well as legal and regulatory costs, including defense and fines from a regulator such as HIPAA or from lawsuits by people affected by a breach. ⁴Company-reported. Cyber insurance product page; the issued policy and its exclusions control. Mylo names hacking and social-engineering attacks (such as spear phishing), employee or partner data errors and misuse, and malware or ransomware as the cyber threats this coverage is designed to address. ⁴Company-reported. Cyber insurance product page. Mylo says cyber insurance can often be added to a Business Owner's Policy depending on the carrier, alongside general liability, commercial property and business interruption. ⁴Company-reported. Cyber insurance product page "Add cyber to your Business Owner's Policy (BOP)" section.
Role in This Line	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. ²Company-reported. About-us page; applies to Founder Shield's brokerage model generally, restated here for this line.	Mylo brokers cyber insurance by comparing quotes from multiple carriers rather than underwriting the policy itself. ⁴Company-reported. Cyber insurance product page.

Criteria

Founder Shield Cyber Liability Insurance

Mylo Cyber Insurance

Who It’s For

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. ¹Company-reported. Cyber Liability product page.

Mylo markets cyber insurance to businesses that take credit cards or store customer information, citing its own figure that more than two-thirds of small businesses have experienced a cyberattack. ⁴Company-reported. Cyber insurance product page; a company-reported statistic, not independently verified.

Coverage Features

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. ¹Company-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. ¹Company-reported. Product page; specific exclusions depend on the issued policy.

Mylo says cyber coverage can pay non-legal costs (breach investigation, customer notification, crisis-management and PR help, lost income, ransom reimbursement, and data restoration) as well as legal and regulatory costs, including defense and fines from a regulator such as HIPAA or from lawsuits by people affected by a breach. ⁴Company-reported. Cyber insurance product page; the issued policy and its exclusions control.

Mylo names hacking and social-engineering attacks (such as spear phishing), employee or partner data errors and misuse, and malware or ransomware as the cyber threats this coverage is designed to address. ⁴Company-reported. Cyber insurance product page.

Mylo says cyber insurance can often be added to a Business Owner's Policy depending on the carrier, alongside general liability, commercial property and business interruption. ⁴Company-reported. Cyber insurance product page "Add cyber to your Business Owner's Policy (BOP)" section.

Role in This Line

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. ²Company-reported. About-us page; applies to Founder Shield's brokerage model generally, restated here for this line.

Mylo brokers cyber insurance by comparing quotes from multiple carriers rather than underwriting the policy itself. ⁴Company-reported. Cyber insurance product page.