Insurance
Cyber Insurance Premium Written
Underwriting a cyber liability policy covering data breach and ransomware for a fintech company.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Premium Receivable — Cyber | Asset (+) | 12,000.00 | - |
| Written Premium — Cyber | Revenue (+) | - | 12,000.00 |
💡 Accountant's Note
Cyber insurance is the fastest-growing specialty line globally. It covers first-party losses (ransomware, data recovery) and third-party liability (customer data breach notification, regulatory fines coverage).
Professional Excel Template
Get the automated version of this entry. Includes built-in IFRS checks, VAT calculators, and SAP-ready upload formats.
QA
Expert Analysis by Qusai Ahmad
General Accountant Supervisor & IFRS Specialist
Specialized in SAP GUI automation and Middle Eastern tax compliance. Building digital tools for the next generation of finance leaders.