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Types of Cyber Insurance Coverage
Cyber insurance policies vary, but they generally encompass several core areas:
- First-party coverage: This includes data restoration, business interruption losses, and extortion payments.
- Third-party coverage: This protects against claims made by customers or partners affected by a data breach.
- Regulatory fines and penalties: Coverage for legal expenses and fines incurred due to non-compliance with data protection laws.
Understanding these options allows businesses to tailor their coverage to meet specific needs, ensuring comprehensive protection3.