1 year ago

Cyber insurance (also cyber liability insurance coverage or cyber risk insurance) is a type of insurance policy that helps organizations cover financial damages related to https://www.upguard.com/blog/cyber-attack or https://www.upguard.com/blog/data-breach. Insurance providers that offer cyber insurance must https://www.upguard.com/blog/cyber-security-risk-assessment' https://www.upguard.com/blog/security-posture to determine the type of liability coverage to provide.

Additionally, a cybersecurity insurance policy may also cover liability claims and additional legal costs that come with the attacks or breaches.

Cybersecurity insurance policies generally have two main types: First-party coverage - The most common type of coverage that covers cyber-related losses directly impacting a business.

While general liability insurance policies cover physical injuries, property insurance, and product and service damages for policyholders, they do not cover cybersecurity damages due to the unprecedented nature of cyber risk.