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This could include things like: Building security monitoring; Web hosting; Web design; Digital marketing; and Offsite backup servers. If you’re truly not sure where to begin we suggest you take two minutes to take our cyberrisk quiz and understand your company's cyber exposure. and most importantly…) 6.
Think like an insurer If the decision has been made not to apply for a policy or renew an existing one, but cyber security is still a concern for the business, it's worth going over the same questions that an insurer may ask and having a robust answer ready and a plan in place to mitigate potential risks.
In its modern iteration, cyber liability insurance mitigates the losses and business costs associated with cyber incidents and resulting downtime. CyberCube, a company specializing in quantifying cyberrisk, estimates that the U.S. standalone cyber insurance market could reach $45 billion in premiums by 2034.
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