Are IoT devices covered under cyber insurance, and how do insurers address the unique risks associated with these technologies?
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Are IoT devices covered under cyber insurance, and how do insurers address the unique risks associated with these technologies?
IoT (Internet of Things) devices are indeed covered under cyber insurance policies. Insurers address the unique risks associated with IoT technologies by offering specialized coverage and tailor-made policies that consider the specific vulnerabilities and exposures related to these devices. Insurers may incorporate clauses related to data security, privacy breaches, and potential physical damage caused by IoT device malfunctions. Additionally, insurers may provide risk assessment services, guidance on best practices for securing IoT devices, and support in case of a cyber incident involving IoT devices.