Cyber insurance is a specialized commercial property and casualty insurance product designed to help businesses mitigate financial losses stemming from cyberattacks, data breaches, and digital technology failures. Unlike traditional insurance that covers physical property damage, cyber policies are structured to cover intangible digital assets, operational downtime, and third-party liabilities. They typically combine first-party coverage (such as data recovery, extortion demands, and business interruption losses) with third-party coverage (such as legal defense and regulatory fines).
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