Cyber Security Insurance is a relatively new insurance concept. It is also known as Cyber Liability Insurance Coverage (CLIC), Data Breach Insurance or Privacy Insurance. Here is how to find cyber insurance in today’s marketplace.
Cyber Security Insurance: The Basics
Cyber Insurance policies assist businesses by reducing their exposure to cyber risk. This is done by financially compensating the insured during their recovery efforts after a security infringement.
Vulnerable organizations include:
- Companies that accept credit cards
- HIPAA Compliant Companies
- Financial Planners, and
- Title Companies, among others
The reality is, experts have pretty much concluded that nearly every business enterprise is vulnerable to a Cyber Breach.
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