Cyber insurance, also known as cyber liability insurance or cyber security insurance, protects against financial losses caused by cyber security risks. In recent years, with the continuous development of technology and the Internet, this emerging insurance has become an indispensable and important guarantee for modern enterprises. When a company is attacked by hackers, the company’s computer system is poisoned and paralyz cannot operate, and customer data is leaked, insurance companies will help the company handle the crisis as quickly as possible, compensate for computer system losses, provide customer credit supervision.
Revenue lost during the business period, etc.
Common cybersecurity issues include fund transfers (hackers transfer funds from company accounts to their own accounts), social engineering (impersonating others and tricking victims into transferring funds to scammers with phishing emails/messages), and invoice manipulation (impersonating customers) /Supplier, by forging invoices to get the company to pay).
Why cyber insurance is important
Internet security is closely related
In today’s society, almost Special Database all enterprises will involve network technology in the process of operation and development, whether company employees use computers to send and receive emails, or enterprises use any inventory registration system, personnel system, tax reporting system, customer information storage system and other software.
Traditional insurance does not cover related protections
Traditional commercial insurance, such as commercial liability insurance, commercial property insurance, fault and Hong Kong Phone Number List omission insurance, etc., usually do not cover losses caused by cyber incidents unless the insurance company adds cyber insurance to the coverage. Therefore, if a company is attack by ransomware, user information is leak or other cyber crimes occur, without cyber insurance, it often has to bear these major financial losses itself.
