Cybersecurity has become a necessity for organizations across various industries and sectors as almost every company is a potential target for cybercriminals.
Consequently, many companies are investing in Cyber Insurance to cover the rising expense of cyber-attacks & to protect the overall bottom line.
Cybersecurity insurance, also known as cyber liability coverage or cyber risk insurance, is designed to cover the business liabilities in the event of a data breach that involves sensitive data. Additionally, Cyber insurance can help alert clients about a data breach, repair damaged computer systems, and restore the affected customers’ identities, in addition to covering legal expenditures and fees.
Wondering if your business need cybersecurity Insurance
The answer to this is YES. Cybersecurity is for every business. If they gather, process, and store financial or personal customer or employee data, all types of commercial enterprises, including not-for-profit organizations, companies, educational, and financial services institutions, can benefit from having cyber insurance.
The surge in cyber-attacks has highlighted the importance of efficient cybersecurity risk management, of which cyber insurance is an important part. Organizations should protect their vital data and assets from emerging threats as soon as possible.
To understand more about cybersecurity insurance, register here for the upcoming webinar on “Understanding Cybersecurity Insurance” and learn cybersecurity’s do’s and don’ts.