Cyber insurance is a type of insurance that can help protect your business against the financial losses caused by cyber incidents, such as data breaches, cyber-attacks, ransomware, cyber extortion, cyber liability, and more. Some of the benefits of cyber insurance are:
• It can cover the costs of restoring and recovering your data and systems after a cyber incident12.
• It can cover the costs of notifying your customers and providing them with anti-fraud services, such as credit monitoring2.
• It can cover the costs of legal fees, settlements, court judgments, and regulatory fines associated with cyber incidents23.
• It can cover the costs of lost revenue or profit due to business interruption caused by cyber incidents12.
• It can cover the costs of ransom payments or cyber extortion demands based on your coverage limits12.
• It can provide you with access to experts and professionals who can help you respond to and manage a cyber incident13.
• It can help you mitigate the reputational damage and restore the trust of your customers and stakeholders after a cyber incident34.
Cyber insurance is not a substitute for good cybersecurity practices, but rather a complementary measure that can help you reduce the risks and costs of a cyber incident. Cyber insurance can also help you comply with data privacy regulations and industry standards that may require you to have adequate protection against cyber risks34. If you need help with this call Computers Done Right at 941-240-2675.
Learn more:
1. zeguro.com
2. nerdwallet.com
3. csoonline.com
