Cybersecurity is important in today’s internet world. To recover business or individual from any cyber risks or internet based risks, there are insurance products available in the market called cyber insurance. It doesn’t protect business or individual from any cyber attack or cybercrime but it helps restore the business back by claiming the insured sum. Cyber insurance providers offer financial cover against any cybersecurity incidents for any individual or business firms. There are famous companies provides insurance cover for these cases.
What is covered?
Coverage by these type of insurance includes
- Identity theft
- Cyber stalking
- Malware attack
- Phishing
- Email Spoofing
- Data theft
- Ransomware
- and various others depends on the company and the cost of the policy.
Note
Even if you have IT security team, it is advisable to buy cyber insurance as this helps covers the expense.
