Not many people are quite aware of what cyber security insurance is
truly all about. It is easy to explain the effects of cyber-attacks to small
and big businesses but the role of these cyber insurance brokers are often
misunderstood. Basically, a Cyber insurance broker is one that bears some of
the risks associated with a Cyber security breach. In other words, these cyber
insurance brokers mitigate financial damage for companies affected by cyber-attacks.
Usually when you are covered by a Cyber insurance broker like the
Greater National Group, you have risk management strategy options to choose
between First-party or Third-party insurance coverage. The former would cover
all damages on your digital assets and business mishaps. Occasionally, it can
assist in reputation control of the business. Third-party insurance looks to
cover the cost of the following: legal defense, credit monitoring, regulatory
fines, forensic investigations, compensation, public relations, and customer
notification.
http://gng.com.au
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