When a data breach occurs, what kinds of financial impacts, such as legal fees or customer notifications, are covered by cyber insurance?
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When a data breach occurs, what kinds of financial impacts, such as legal fees or customer notifications, are covered by cyber insurance?
Cyber insurance typically covers financial impacts resulting from a data breach, such as legal fees, costs associated with customer notifications, forensic investigations, credit monitoring services, public relations expenses, and any regulatory fines or penalties. Additionally, cyber insurance may also cover business interruption losses and extortion payments in case of ransomware attacks.