What is cyber insurance and why is it important

▤ Summary

The policy pays out for direct and indirect costs if you lose money, data, software, intellectual property or customers to cybercrime. This third-party policy will cover any costs that you are liable to pay resulting from another firm’s cyber losses. Equally important is understanding what is not covered, typically potential future lost profits, long term loss of reputational damage or upgrades to your IT systems. In addition, some insurers offer discounts if your business has recognised cyber security defences in place. We strongly recommend working with your accountant, financial advisor and IT support company to determine the level of cover you need.

▦ Linked Companies

Trend Micro

$250M to $500M