What is cyber insurance?

Cyber insurance is a contract through which you can transfer cyber risk to an insurance company. In other words, it's a way for someone else to bear the expense of technology turning against your business. 

You can't transfer your total cost of cyber risk, but cyber insurance can cover quite a bit, including:

• Damages and defense costs from third-party suits
• Regulatory fines and expenses
• Forensic investigation costs
• Costs to provide privacy notifications and services to affected parties
• Reimbursement of lost income or stolen money resulting from a cyber attack
• Protection of your business' reputation