What is the impact of a cyber incident on a company’s reputation, and how does insurance address this?

Insurance policies that cover cyber incidents, such as cyber liability insurance, may provide coverage for reputational damage caused by such incidents. This coverage may include costs associated with managing the public relations aspect of the incident, such as hiring a public relations firm to help mitigate reputational damage. However, the specific coverage for public relations support can vary depending on the insurance policy and the insurance provider. It’s essential for businesses to carefully review their insurance policies to understand what type of support is included in case of reputational damage caused by cyber incidents.