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Types of Cyber Liability Insurance

There are generally two main types of cyber liability insurance: first-party and third-party coverage. First-party coverage addresses direct losses incurred by your business, such as the costs of recovering compromised data, business interruption losses, and expenses related to notifying affected customers. Third-party coverage, on the other hand, protects your business against claims brought by customers or other third parties impacted by the breach. This includes legal defense costs and settlements.