Key Areas of Cyber Insurance Coverage
Data Breach Response Costs:
Covers customer notifications, credit monitoring, legal fees, and penalties under India's Information Technology Act.
Cyber Fraud Insurance:
Protects against losses from phishing, wire fraud, and insider threats.
Business Interruption:
Compensates for financial losses due to downtime from cyber attacks.
Ransomware Attack Payments:
Covers ransom payments, negotiation costs, and system restoration expenses.
Legal and Regulatory Expenses:
Covers legal defense, settlements, and regulatory penalties following a data breach.
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