Why cyber insurance is a smart step for business?November 13, 2022
Cybersecurity is important in today’s business world. Companies have become so reliant on computer systems in their income-generating activities that cyber-attacks can affect their profits. Cyber insurance should cover customers when they are subject to cyber-attack.
As a result, this service may cover a wide range of unforeseen circumstances, ranging from covering losses incurred because of cyber-attacks, to ending the costs of dealing with hacking trials. However, interested parties need to remember that cyber insurance has its own characteristics, in which the insurance amount is not paid to the injured party.
Therefore, it is important for business owners to examine the contract when concluding a transaction. After all, it will be a shame to pay for insurance, but not receive compensation in case of cyber-attack.