Cyber insurance has become a useful hedge for businesses against the financial and reputational damage caused by modern cyberthreats. With the increasing frequency and sophistication of cyberattacks, organizations face significant risks such as data breaches, ransomware attacks and business interruption. Cyber insurance provides financial protection by covering expenses related to incident response, legal fees, data recovery and even potential extortion payments. It helps businesses recover from financial losses and manage the costs of incident investigation, notification and customer remediation.
Moreover, cyber insurance offers coverage for third-party liability, safeguarding businesses from lawsuits arising from data breaches or privacy violations. By transferring the risk to an insurance provider, organizations can gain peace of mind, enhance their cyber risk management strategies and ensure business resilience in the face of cyberthreats.
Acronis provides protection against a broad range of such cyber threats, making it easier for businesses to qualify for cyber insurance in the face of newly strict standards imposed by issuers.