Cyber insurance covers a wide array of digital risks and financial losses resulting from network security failures, malicious cyberattacks, and data breaches. It provides financial indemnification for first-party expenses such as IT forensic investigations, data recovery, business interruption downtime, crisis public relations management, and authorized ransomware extortion demands. Additionally, it covers third-party liabilities, including legal defense costs, regulatory fines, and privacy lawsuits stemming from compromised customer or employee personal information.
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