Tips when evaluating cyber-insurance policies
Cyber-insurance policies cover business liability for a data breach in which customer information (such as social security or credit data) is exposed or stolen by a hacker. Such policies may also cover data breaches due to employee error or malfeasance. Depending on the policy, this insurance can cover a range of expenses associated with data breaches, including notification costs, credit monitoring, costs to defend legal claims, fines and penalties, and other applicable losses.