Hiscox vs 
Mylo: How Do They Compare for Cyber Insurance?
Mylo compares quotes from several carriers; Hiscox sells its own standalone cyber directly online, with a business owner's policy add-on also available.
Hiscox lets eligible small businesses quote a standalone cyber policy online, separate from its business owner's policy. Mylo brokers cyber by comparing quotes from multiple carriers and says the coverage can often be added to a Business Owner's Policy. 1,5
What Are the Key Differences Between Hiscox and Mylo Cyber Insurance?
Buy a Standalone Policy or Add It to a BOP
Hiscox sells standalone cyber online for small businesses, separate from its BOP, which only offers an optional cyber add-on. Mylo compares quotes from multiple carriers and says cyber can often be added to a BOP beside general liability, commercial property and business interruption. Choose Hiscox if you want a named standalone policy you can quote yourself; choose Mylo if you want a broker to shop carriers and possibly fold cyber into a BOP. 1 5
What Each Page Says a Breach Policy Pays
Mylo lists non-legal costs such as investigation, notification, crisis PR, lost income, ransom reimbursement and data restoration, plus legal and regulatory defense and fines, including HIPAA examples. Hiscox describes response to data breaches, cyberattacks and related losses, with an illustrative notification scenario on its IT page rather than that itemized cost list. 5 1 2
Who Each Product Is Aimed At
Hiscox markets cyber to small businesses broadly and to IT and technology consultants specifically. Mylo aims at 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. 1 2 5
What Should You Confirm in Hiscox and Mylo Cyber Insurance Quotes?
Hiscox vs Mylo Cyber Insurance Compared
Hiscox vs Mylo: Cyber Insurance: documented features by provider
| Criteria | Hiscox Cyber Security Insurance | Mylo Cyber Insurance |
|---|---|---|
| Who It’s For | Hiscox markets cyber insurance to small businesses broadly and specifically to IT and technology consultants, describing itself as customizing coverage for the technology sector's data-handling and security exposures. 1,2Company-reported. Company-stated audience across the standalone cyber page and the IT-insurance 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. 5Company-reported. Cyber insurance product page; a company-reported statistic, not independently verified. |
| Coverage Features | Hiscox describes cyber coverage as responding to data breaches, cyberattacks and related losses, and its IT-insurance page shows an illustrative breach-response example describing notification and related costs after a data incident. 1,2Company-reported. Product-page description; the illustrative example is explicitly a hypothetical scenario, not a specific limit or claim outcome, and actual coverage terms are set by 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. 5Company-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. 5Company-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. 5Company-reported. Cyber insurance product page "Add cyber to your Business Owner's Policy (BOP)" section. |
| Role in This Line | Hiscox Inc. sells cyber insurance directly online as a standalone product for small businesses, separate from its business owner's policy, which also offers an optional cyber add-on. 1Company-reported. Company-stated standalone small-business cyber product; the BOP cyber add-on is a distinct package option described on a different page. | Mylo brokers cyber insurance by comparing quotes from multiple carriers rather than underwriting the policy itself. 5Company-reported. Cyber insurance product page. |
