cyber insurance

Cyber Insurance Policies: What Should You Be Looking For?

Cyber insurance has emerged as one of the most important types of corporate insurance a business can invest in. This type of insurance is designed to provide protection for businesses in the event of a malicious hack or data breach of any kind – and in today’s climate, where ransomware attacks and hacks by cyber criminals have affected some of the world’s biggest organisations, it’s easy to see why this type of coverage has become so vital.

Cyber insurance has not been around for long. It’s a relatively new industry, in terms of insurance coverage, and that means policies can vary enormously. If you need to invest in cyber insurance, here are some of the main factors you need to consider;

The two main types of coverage
Cyber insurance is separated into two distinct strands. One type covers ‘first-party’risks, which means your business is protected in the event of loss or damage to your own data. Depending on your particularly policy, this coverage can extend to investigation of the breach, public relations expenses linked with the issue, and loss of profits during any network downtime caused by the breach.

@MorpheusInsure