What is Cyber Insurance?

A cyber insurance policy also referred to as “cybersecurity insurance” coverage is a financial product that protects your business against cyber security risks and data breaches.

Typically, the most important aspect of cyber insurance will be network security coverage. This coverage will respond in the event of a network security failure – such as data breaches, social engineering, ransomware or phishing attack. However, the policy can also respond to liability claims and ancillary expenses of an attack or breach.