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Why Cyber Insurance is Essential for Your Business
The rise in cybercrime is alarming. In 2022 alone, the global cost of cybercrime was estimated to reach $6 trillion annually1. For businesses, a single data breach can result in millions of dollars in damages. Cyber insurance provides peace of mind by ensuring that your business can recover quickly from such incidents. Policies typically cover data recovery, business interruption losses, and even extortion payments in the event of ransomware attacks. By investing in cyber insurance, you not only protect your assets but also enhance your company's credibility and trustworthiness in the eyes of clients and partners.