Cyber Insurance is a specialised insurance product designed to protect organisations from the financial and operational impacts of cyber attacks and data breaches.
This crucial risk transfer mechanism covers various costs associated with cyber incidents, including breach notification expenses, legal fees, regulatory fines, business interruption losses, and digital forensic services.
By securing appropriate cyber insurance coverage, organisations establish a vital financial safety net that helps them recover more quickly from cyber incidents while minimising the potentially devastating financial consequences that can threaten business continuity and stakeholder confidence.