![]() ![]() Moreover, cyber insurance offers coverage for third-party liability, safeguarding businesses from lawsuits arising from data breaches or privacy violations. It helps businesses recover from financial losses and manage the costs of incident investigation, notification and customer remediation. Cyber insurance provides financial protection by covering expenses related to incident response, legal fees, data recovery and even potential extortion payments. With the increasing frequency and sophistication of cyberattacks, organizations face significant risks such as data breaches, ransomware attacks and business interruption. Cyber insurance has become a useful hedge for businesses against the financial and reputational damage caused by modern cyberthreats.
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