Cyber insurance is a specialized commercial property and casualty insurance product designed to protect businesses and organizations from financial losses and liabilities resulting from internet-based risks, data breaches, and information technology infrastructure failures. Unlike standard general liability policies that focus primarily on physical injuries or tangible property damage, cyber insurance covers intangible digital assets. It provides financial indemnification for data recovery expenses, cyber extortion ransom payments, business interruption losses during network outages, regulatory fines, and legal defense costs arising from privacy lawsuits.
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