In cases of business disruption caused by cyber incidents, how does insurance compensate for lost income or operational downtime?
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In cases of business disruption caused by cyber incidents, how does insurance compensate for lost income or operational downtime?
Business interruption insurance can help compensate for lost income or operational downtime caused by cyber incidents. This type of insurance typically covers financial losses resulting from the inability to operate normally due to a covered event such as a cyberattack. When a business experiences a disruption, the insurance policy may kick in to provide coverage for ongoing expenses, lost profits, and extra expenses incurred to minimize the disruption. It’s essential to carefully review the policy terms and conditions to understand the specific coverage and limitations related to cyber incidents.