What's typically covered by cyber insurance?
One of the most common questions about cyber insurance is what it covers. Many people are curious about what cyber insurance policies cover types of losses or damages.
Cyber insurance is designed to help protect businesses and individuals from losses or damages resulting from cyber-attacks, data breaches, and other cyber threats. The specific coverage provided by a cyber insurance policy can vary depending on the insurer and the policy terms, but it typically includes:
Data breach response and investigation costs, including forensics, legal fees, and notification expenses.
Business interruption losses resulting from a cyber-attack or data breach.
Cyber extortion and ransomware payments.
Liability for third-party damages resulting from a cyber-attack or data breach.
Coverage for loss or damage to digital assets, such as data, software, or networks.
Coverage for fines and penalties resulting from a cyber incident.
It's important to note that cyber insurance policies can differ significantly, and the coverage provided by one policy may not be the same as another. Therefore, it's crucial to carefully review the policy terms and conditions to understand what is covered and what is not covered by your cyber insurance policy.
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