What are the potential gaps in coverage within standard cyber insurance policies?

Cyber insurance policies commonly have coverage gaps such as inadequate coverage for business interruption, regulatory fines, reputational damage, and certain types of cyber attacks like social engineering or ransomware. Businesses can address these limitations by carefully reviewing policy terms, negotiating for broader coverage, supplementing with additional coverage like business interruption insurance, implementing robust cybersecurity measures to reduce risk, and regularly reviewing and updating their insurance policies to match evolving cyber threats.