How do cyber insurance policies overlap with other insurance types, and how can businesses ensure they avoid duplicate or insufficient coverage?
What are the potential overlaps between cyber insurance and other insurance policies?
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Questions & Answers Board – CyberSecurity
Cyber insurance policies overlap with other insurance types such as general liability, errors & omissions, and crime insurance. To ensure businesses avoid duplicate or insufficient coverage, they should:
1. Review existing insurance policies to understand coverage gaps.
2. Customize cyber insurance policies to meet specific needs.
3. Coordinate coverage across different policies to avoid overlaps.
4. Regularly assess and update insurance coverage to adapt to changing risks.
5. Seek professional advice from an insurance broker to ensure comprehensive coverage.
These steps can help businesses avoid duplicate or insufficient coverage when dealing with cyber insurance policies alongside other types of insurance.