Glossary definition: Cybersecurity Insurance

Cybersecurity Insurance: Protecting from Cyber Threats

Cybersecurity Insurance is a type of insurance that provides coverage for losses resulting from cyber-attacks, data breaches, and other cyber-related risks. It helps to protect businesses from the financial losses that can occur when confidential information, intellectual property, or customer data is compromised. Cybersecurity insurance policies can cover expenses related to responding to a breach, such as the cost of hiring a forensic investigator, legal fees, and notification costs. Additionally, it can provide reimbursement for lost income and expenses related to reputation damage. Cybersecurity insurance can also provide coverage for cyber extortion, cyber liability, and cybercrime.