cyber insurance

Cyber insurance is a type of insurance that covers the financial losses caused by cyberattacks, data breaches, and other cyber incidents. Cyber insurance can help businesses protect their assets, reduce their liabilities, and recover from cyber events. Cyber insurance policies typically offer two kinds of coverage: first-party and third-party. First-party coverage pays for the direct costs of a cyber incident, such as restoring data, repairing systems, and recovering lost revenue. Third-party coverage pays for the costs of lawsuits, fines, and other claims from outside parties, such as customers, employees, or regulators. Cyber insurance is an important part of risk management for any business that uses technology or handles sensitive data.