Cyber Insurance

Cyber Insurance

Cyber insurance is a specialized insurance product designed to protect businesses from the financial impacts of cyber events such as data breaches, ransomware attacks, and other cybersecurity incidents. It typically includes first-party coverage, which pays for losses directly suffered by the business like data restoration, business interruption losses, legal expenses, and public relations costs, as well as third-party coverage that protects against claims made by customers, regulators, or others affected by the cyber event. Cyber insurance helps cover expenses related to breach notification, forensic investigation, legal defense, regulatory fines, and even ransomware payments in certain cases.