Cyber Insurance: Coverage and Requirements

Cyber insurance helps manage residual risk.

Coverage Types

- First-party: Your own losses
- Third-party: Liability to others
- Business interruption
- Ransom payments
- Regulatory fines

Common Requirements

- MFA implementation
- Endpoint protection
- Backup procedures
- Security awareness training
- Incident response plan

Claims Considerations

- Document everything
- Notify insurer promptly
- Follow policy procedures
- Engage approved vendors
- Preserve evidence