BizGuard (financial protection) and BizCyber (cyber insurance) often get confused because both can pay after a wire-fraud or phishing incident — but they're built for different sets of exposures and the two products are best used together.
BizCyber focuses on technical-incident coverage:
- Data breaches and the cost of notifying affected customers.
- Ransomware extortion and recovery.
- Network downtime and business interruption from cyber events.
- Third-party liability when customer data is exposed.
- Regulatory fines where insurable.
BizGuard focuses on financial-event coverage:
- Wire fraud and social engineering payments.
- Chargebacks and payment disputes.
- Key-person coverage when a critical employee departs unexpectedly.
- Revenue protection from financial-impact events.
- Executive liability at higher tiers.
The overlap (and why both matter): a phishing email that drives a fraudulent wire transfer can trigger BOTH policies — BizCyber on the cyber-incident side, BizGuard on the financial-loss side. Many businesses carry both to make sure neither type of loss falls through the cracks.