How do emerging technologies like AI or IoT affect the scope of cyber insurance coverage?
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How do emerging technologies like AI or IoT affect the scope of cyber insurance coverage?
Emerging technologies like AI and IoT are transforming the landscape of cyber insurance coverage. These technologies introduce new risks and complexities that traditional policies may not adequately address. Insurers are adapting by creating specialized policies that account for the unique risks associated with AI and IoT, such as data breaches, privacy issues, and system vulnerabilities. Additionally, the use of AI and IoT can also enhance the capabilities of cyber insurance providers by allowing for more accurate risk assessment, better pricing models, and improved response capabilities to cyber incidents. Overall, the evolving nature of technology necessitates continuous updates and innovation in cyber insurance to effectively protect businesses from emerging threats.
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