A type of insurance product that is designed to protect businesses against potential damages associated with cybercrimes such as ransomware and malware attacks. It is a customizable solution for businesses to mitigate specific risks associated with cybersecurity breaches and prevent unauthorized access to their sensitive data and networks.
Concerns Associated With Cyber Insurance Compliance:
- Cyber Insurance coverage can be unclear and confusing. It’s hard to understand what is covered and what is not, so you need to be certain you are picking the right coverage.
- The policies are complex and possess certain constraints and limitations that can be difficult for businesses to interpret. It is vital that you have adhered to and fulfilled all policy requirements to ensure that your claims are not denied.