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Real-World Examples of Cyber Insurance in Action

Consider the case of a small e-commerce business that faced a data breach due to a vulnerability in its payment gateway. With a robust cyber insurance policy, the company was able to cover the costs of legal fees, customer notification, and IT forensics, ultimately saving them from potential bankruptcy. Another example is a financial services firm that experienced a ransomware attack. Thanks to their cyber insurance, they managed to pay the ransom and recover their data without significant financial losses.