Cyber Risk Insurance Spain

What Is Cyber Risk Insurance?

Here is what you need to know.

Cyber risk insurance — seguro de ciberriesgo in Spanish — is a specialised commercial policy that responds to the financial consequences of a digital attack on your business. It is fundamentally different from your IT support contract or your antivirus subscription: those try to prevent the attack, the policy pays for the consequences when prevention has already failed.

The Spanish cyber-insurance market grew by 47% in 2024 according to Unespa data, driven by three converging pressures: the General Data Protection Regulation (RGPD in Spain) and its mandatory breach-notification rules to the AEPD, the rise of ransomware-as-a-service targeting SMEs at scale, and supply-chain attacks where one breached customer takes out an entire vendor base. The Spanish national cyber-security agency INCIBE responded to over 100,000 SME incidents in 2024 alone.

Generali Ciber is the dedicated cyber product issued by Generali España. It is structured for businesses from 1 employee up to mid-market enterprises, with limits from €100,000 to €5,000,000 and a 24-hour multi-lingual incident response hotline that triggers the moment a breach is suspected — not after.

Who Needs Cyber Insurance in Spain?

Many expats in Spain benefit from this cover.

What Generali Ciber Covers

First-party costs — money the policy pays directly to your business to deal with the incident:

• Incident response and forensics. Generali deploys an accredited cybersecurity firm to identify the breach vector, contain the attack, and provide the technical report needed for the AEPD notification.
• Data restoration — costs of rebuilding systems, restoring backups, and recreating lost data including hardware replacement where infected machines must be replaced.
• Ransomware and cyber extortion — pays the ransom where legally permitted under Spanish law (subject to OFAC sanctions checks and Generali approval), plus negotiation costs through specialist incident-response firms.
• Business interruption — your projected lost income for the period your systems are unusable, typically up to 30, 60 or 90 days depending on tier.
• Crisis communications and PR — agency fees to manage media response, customer communications and reputation recovery after a public breach.
• Mandatory notification costs — letter and email costs to notify affected customers under the 72-hour RGPD rule, plus call-centre support to handle inbound queries.
• Credit and identity monitoring — typically 12 months of monitoring for affected customers, a near-mandatory goodwill measure after a breach.

Third-party liability — money the policy pays to people or businesses that sue you because of the breach:

• Defence costs and damages — legal defence against data-protection class actions, individual customer claims, and supplier or partner contractual claims.
• AEPD investigation costs — legal representation during a Spanish Data Protection Agency inquiry, including production of evidence and attending oral hearings.
• GDPR / RGPD fines — where insurable under Spanish law (some categories of fine cannot legally be insured against; Generali insures every category that can be).
• Network security liability — damages to third parties whose systems were attacked through yours (supply-chain liability — increasingly common after the SolarWinds-type incidents).

What Is NOT Covered

Here is what you need to know.

• Pre-existing breaches — any incident that occurred before the policy inception date, even if discovered during the policy period.
• Reckless disregard of basic security — failure to apply security patches, run any antivirus, or use multi-factor authentication on email and admin accounts. Underwriters increasingly check this with a short questionnaire at quote stage.
• Acts of war and state-sponsored attacks — most policies exclude attacks attributed to nation-state actors, though the wording is currently in flux across the market following the NotPetya court rulings.
• Loss of intellectual property — the value of stolen IP itself (patents, trade secrets) is typically excluded; the cost of recovering and securing systems is covered.
• Bodily injury or property damage — covered under your civil liability or property policy, not the cyber policy.
• Insider trading or fraudulent acts by directors — covered under D&O policies, not cyber.

Generali Ciber Cover Tiers

Indicative Annual Premiums

Disclaimer: All figures are indicative for 2026 and subject to underwriting at the time of application. Final premium depends on age, occupation, postcode, sums insured and individual risk profile. Contact us for a written quote.

Why Generali for Cyber Cover

Generali was one of the first major European insurers to launch a Spanish-market cyber product (2017) and has the longest claims-handling track record of the mainstream Spanish insurers. The 24-hour incident hotline is staffed by S2 Grupo, one of Spain's leading incident-response firms, with multi-lingual support including English.

Pre-loss services are included as standard: an annual phishing-simulation campaign for staff, a dark-web monitoring scan for compromised credentials linked to your domain, and a free annual security policy review.

The single most-claimed-on benefit is the 72-hour AEPD notification support. Spanish data protection law requires notification of any breach affecting personal data within 72 hours of discovery — a deadline most businesses cannot realistically meet without prepared legal and forensic support. The Generali hotline mobilises that support immediately, often the difference between a manageable incident and a catastrophic one.