Cyber Insurance
What is it?
Cyber insurance is an insurance policy that is designed to protect businesses and
individuals from the financial losses that can result from cyberattacks or data
breaches.
What does it cover?
Cyber insurance policies typically provide coverage for a range of losses and expenses,
including:
•
Business interruption: the insurance can provide coverage for lost income or
extra expenses that result from a cyberattack or data breach.
•
Data loss or destruction: the policy may cover the cost of restoring or
recreating lost or damaged data, as well as the cost of notifying affected
individuals.
•
Liability: cyber insurance can provide coverage for lawsuits brought against a
business or individual for damages resulting from a data breach or cyberattack.
•
Cyber extortion: If a business is the victim of a ransomware attack, the policy
may cover the cost of negotiating and paying the ransom.
•
Cybercrime: Some policies may also provide coverage for losses resulting from
cybercrime, such as social engineering scams or fraudulent fund transfers.
Why buy it?
Cybercrime is on the rise. As the world becomes increasingly interconnected, cyber
threats continue to evolve and grow in sophistication. Having cyber insurance can
provide peace of mind in the face of these evolving risks.
Cyber insurance policies can be tailored to meet the specific needs of a business or
individual, depending on the nature and scale of the risks they face. Some policies may
also offer additional benefits, such as access to cybersecurity experts or resources to
help prevent cyber incidents.
Overall, cyber insurance can be an important part of a comprehensive cybersecurity
strategy, helping businesses and individuals to manage the financial risks associated
with cyber incidents.
What next?
For more information on the application process and costs of cyber insurance go to
www.continuuminsure.com or send us an enquiry at hello@continuuminsure.com