Mylo vs Risklytics: How Do They Compare for Cyber Insurance?

Risklytics places cyber for robotics and AI firms, noting contracts often ask for $1 million or more; Mylo compares quotes from several carriers for businesses that take cards.

Risklytics places cyber through an online application with no extra broker fee and excludes model-output incidents that involve no breach. Mylo compares carrier quotes for businesses that take cards or store customer data and does not state either rule. ^2,¹

What Are the Key Differences Between Mylo and Risklytics Cyber Insurance?

Breach Cleanup Versus Model Output

Risklytics' lines page states what this grant does and does not respond to:

Risklytics describes Cyber Liability as paying for breach cleanup, legally required notifications, and the claims that follow a hack or data leak, such as a ransomware attack or exfiltrated customer records, and says it does not respond to a model giving bad output with no breach involved. ²Company-reported. Lines page; the issued policy and declarations control actual coverage.

Mylo lists hacking, social engineering, data errors and malware or ransomware without taking a position on model-output claims. Choose Risklytics if you want that AI boundary stated before bind; choose Mylo if you want a small-business carrier comparison without that framing. ¹

How Each Is Paid

Risklytics says there is no broker fee on top of premium because the carrier pays its commission out of premium. Mylo's reviewed page does not disclose compensation for a cyber placement. ⁴ ¹

When to Buy

Risklytics says companies typically need the coverage the first time customer data sits in production, or when an enterprise or government contract requires it. Mylo markets to any business taking cards or storing customer information. ² ¹

What Should You Confirm in Mylo and Risklytics Cyber Insurance Quotes?

Ask both how a model-output incident without a breach would be treated. ² ¹
Ask Mylo how it is paid. ¹
Get the issuing insurer from both. ² ¹
Ask Risklytics whether the typical $1 million-plus contract ask matches your contracts. ²

Mylo vs Risklytics Cyber Insurance Compared

Mylo vs Risklytics: Cyber Insurance: documented features by provider

Criteria	Mylo Cyber Insurance	Risklytics Cyber Liability Insurance
Who It’s For	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. ¹Company-reported. Cyber insurance product page; a company-reported statistic, not independently verified.	Risklytics says companies typically need this coverage the first time they hold customer data in production, and that enterprise and government contracts require it once a vendor touches their data. ²Company-reported. Lines page.
Coverage Features	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. ¹Company-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. ¹Company-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. ¹Company-reported. Cyber insurance product page "Add cyber to your Business Owner's Policy (BOP)" section.	Risklytics describes Cyber Liability as paying for breach cleanup, legally required notifications, and the claims that follow a hack or data leak, such as a ransomware attack or exfiltrated customer records, and says it does not respond to a model giving bad output with no breach involved. ²Company-reported. Lines page; the issued policy and declarations control actual coverage.
Role in This Line	Mylo brokers cyber insurance by comparing quotes from multiple carriers rather than underwriting the policy itself. ¹Company-reported. Cyber insurance product page.	Risklytics Insurance Services is a licensed insurance producer (NPN 22311838) that places Risklytics Cyber Liability Insurance with outside carriers; it says it does not underwrite policies itself. ³Company-reported. About page; describes Risklytics' brokerage model generally, restated for this line.

Criteria

Mylo Cyber Insurance

Risklytics Cyber Liability Insurance

Who It’s For

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. ¹Company-reported. Cyber insurance product page; a company-reported statistic, not independently verified.

Risklytics says companies typically need this coverage the first time they hold customer data in production, and that enterprise and government contracts require it once a vendor touches their data. ²Company-reported. Lines page.

Coverage Features

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. ¹Company-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. ¹Company-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. ¹Company-reported. Cyber insurance product page "Add cyber to your Business Owner's Policy (BOP)" section.

Role in This Line

Mylo brokers cyber insurance by comparing quotes from multiple carriers rather than underwriting the policy itself. ¹Company-reported. Cyber insurance product page.

Risklytics Insurance Services is a licensed insurance producer (NPN 22311838) that places Risklytics Cyber Liability Insurance with outside carriers; it says it does not underwrite policies itself. ³Company-reported. About page; describes Risklytics' brokerage model generally, restated for this line.