What role does cybersecurity insurance play in an organization’s compliance strategy?
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What role does cybersecurity insurance play in an organization’s compliance strategy?
Cybersecurity insurance can play a crucial role in an organization’s compliance strategy by providing financial protection in the event of a cyber incident. It can help cover costs associated with data breaches, regulatory fines, legal fees, and other expenses related to cyber incidents. Having cybersecurity insurance in place may also be a requirement for compliance with certain regulations or industry standards. Additionally, some insurers offer proactive risk management services to help organizations strengthen their cybersecurity posture and meet compliance requirements.