What is cyber insurance?

Cyber insurance protects against cybercrime and cybersecurity risks such as breach of personal information, identity theft and online fraud events, cyberbullying, cyber extortion including ransomware, and cyber-attacks to operational systems. It protects businesses and homeowners from hefty legal and operational expenses as they respond to cyber-attacks.

Cyber insurance coverage is vital in today’s modern world as we rely heavily on digital information, computer systems, and connected smart homes; and conduct business and personal matters using online platforms, including the exchange of personally sensitive information.