What makes a cyber insurance policy comprehensive, and what components should businesses prioritize when selecting coverage?
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What makes a cyber insurance policy comprehensive, and what components should businesses prioritize when selecting coverage?
A comprehensive cyber insurance policy typically includes coverage for various aspects of cyber incidents such as data breaches, business interruption, ransomware attacks, regulatory fines, and legal expenses. When selecting coverage, businesses should prioritize components like coverage limits tailored to their needs, incident response services, crisis management support, coverage for reputation damage, legal liability protection, and third-party vendor risk coverage. Understanding exclusions, policy language, and the financial strength of the insurer are also crucial considerations.