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Cyber Insurance: Your Lifeboat for Cyber Emergencies
Appropriate cyber insurance coverage can make the difference between an irreversible crash and a manageable business crisis. Depending on your insurance package, your cyber insurance can cover:
First-party damages
such as the costs of business interruption, IT forensics, compromised devices, and post-attack responses like notifying your customers of a data breach.
Third-party damages
such as the harm your clients or business partners suffered from the cyber attack, e.g., virus damage or leaks of sensitive data.
Crime
Direct financial loss resulting from the fraudulent input of instructions to transfer funds or property such as business email compromise and impersonation fraud as a result of a breach of network security.