Unlocking the Basics of Cyber Insurance: A Comprehensive Guide
Unlocking the Basics of Cyber Insurance: A Comprehensive Guide As technology advances and more businesses shift their operations online, the risk of cyberattacks and data breaches continues to grow. According to a report by IBM, the average cost of a data breach in 2022 was approximately $4.24 million. This staggering number highlights the importance of having a robust cybersecurity plan in place, including investing in cyber insurance. What is Cyber Insurance? Cyber insurance, also known as cyber liability insurance or cybersecurity insurance, is a type of insurance policy designed to protect businesses and individuals from the financial losses resulting from cyberattacks, data breaches, and other online threats. This type of insurance typically covers expenses such as: ...