Mylo vs USI Insurance Services: How Do They Compare for Cyber Insurance?

Mylo is a broker that compares carriers for businesses that take cards; USI Insurance Services is a broker whose PrivaSafe program for middle-market firms includes up to $2 million in notification-cost coverage.

USI's PrivaSafe form posts up to $2 million of notification costs outside the aggregate for middle-market firms. Mylo compares cyber quotes for businesses that take cards or store customer data and does not publish matching sublimits. ^2,¹

What Are the Key Differences Between Mylo and USI Insurance Services Cyber Insurance?

Posted Sublimits Versus Compared Quotes

USI publishes a PrivaSafe structure a buyer can line up against likely breach costs.

USI says PrivaSafe can prevent uninsured or underinsured losses up to $10 million, includes up to $2 million in notification-cost coverage in addition to the policy's aggregate limit, and $250,000 in defense-cost coverage outside the limit (with additional limit available). ²Company-reported. Program page figures describe the PrivaSafe structure generally; a buyer's actual limits, sublimits and retentions are set on the policy declarations.

Mylo compares quotes from multiple carriers for small businesses that take credit cards or store customer information, without a posted limit or sublimit schedule. Choose USI if those published extras matter and you look like a middle-market account; choose Mylo if you want to shop carriers online without a manuscript form. ¹

Middle Market Versus Card-and-Data Small Business

USI says middle-market firms are especially exposed because they often lack in-house security expertise. Mylo's page does not use a company-size band; it talks to any business taking cards or holding customer information. ² ¹

Intake Versus Online Comparison

USI wants current cyber policies, a vulnerability assessment and audited financials before it reviews exposure. Mylo describes online shopping where you compare carrier options, and says cyber can often attach to a BOP depending on the insurer. ² ¹

What Should You Confirm in Mylo and USI Insurance Services Cyber Insurance Quotes?

Ask USI whether the published extras appear on your quote. ²
Ask Mylo which carriers it compared. ¹
Get the issuing insurer from both. ² ¹
Confirm whether cyber would sit on a Mylo BOP or as a standalone. ¹

Mylo vs USI Insurance Services Cyber Insurance Compared

Mylo vs USI Insurance Services: Cyber Insurance: documented features by provider

Criteria	Mylo Cyber Insurance	USI PrivaSafe Cyber and Privacy Liability Program
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.	USI markets PrivaSafe to middle-market firms, saying they are particularly vulnerable to cyber events because they have limited in-house access to security expertise. The page also says any business that gathers personal or health information, manages a network, or accepts electronic payments is a potential target. ²Company-reported. Program page marketing description, not an underwriting appetite statement.
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.	USI describes PrivaSafe as covering three areas: liability costs (including inability to protect information and related tort liability), compliance and corrective costs (data breach and forensic costs, privacy regulatory costs, payment-card standards), and direct costs (network interruption, data reconstruction, cyber extortion, bricking, voluntary shutdown, reputational harm business interruption, and cyber crime). ²Company-reported. PrivaSafe program page; actual insuring agreements and exclusions are set by the issued policy form.
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.	USI is a broker, not an insurer, for cyber coverage. It places cyber and privacy liability policies for clients and layers on its own manuscripted program, PrivaSafe, rather than underwriting the risk itself. ^2,³Company-reported. PrivaSafe program page and USI's property & casualty and technology practice pages.

Criteria

Mylo Cyber Insurance

USI PrivaSafe Cyber and Privacy Liability Program

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.

USI markets PrivaSafe to middle-market firms, saying they are particularly vulnerable to cyber events because they have limited in-house access to security expertise. The page also says any business that gathers personal or health information, manages a network, or accepts electronic payments is a potential target. ²Company-reported. Program page marketing description, not an underwriting appetite statement.

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.

USI describes PrivaSafe as covering three areas: liability costs (including inability to protect information and related tort liability), compliance and corrective costs (data breach and forensic costs, privacy regulatory costs, payment-card standards), and direct costs (network interruption, data reconstruction, cyber extortion, bricking, voluntary shutdown, reputational harm business interruption, and cyber crime). ²Company-reported. PrivaSafe program page; actual insuring agreements and exclusions are set by the issued policy form.

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.

USI is a broker, not an insurer, for cyber coverage. It places cyber and privacy liability policies for clients and layers on its own manuscripted program, PrivaSafe, rather than underwriting the risk itself. ^2,³Company-reported. PrivaSafe program page and USI's property & casualty and technology practice pages.