What types of financial or operational damages caused by phishing attacks are typically covered under cyber insurance?
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What types of financial or operational damages caused by phishing attacks are typically covered under cyber insurance?
Cyber insurance policies may cover a range of financial or operational damages caused by phishing attacks, including but not limited to:
1. Loss of funds due to fraudulent wire transfers or unauthorized transactions.
2. Costs associated with investigating the breach and restoring systems.
3. Legal expenses incurred from data breach lawsuits.
4. Business interruption losses due to system downtime.
5. Costs of notifying affected individuals and providing credit monitoring services.
6. Reputational harm and expenses related to public relations efforts to restore trust.
It’s important to carefully review your specific cyber insurance policy to understand the coverage and exclusions related to phishing attacks.