Here are some key features of cyber insurance:

1.Data Breach Coverage: Cyber insurance typically provides coverage for costs associated with responding to and mitigating the impact of a data breach. This may include expenses such as forensic investigations, notification of affected individuals or regulatory authorities, credit monitoring services for affected individuals, and public relations and crisis management.

2.Cyber Extortion Coverage: Cyber insurance may include coverage for expenses related to cyber extortion attempts, such as ransomware attacks. This coverage may reimburse businesses for ransom payments, expenses incurred in negotiating with cyber extortionists, and costs associated with restoring data and systems after an extortion incident.

3.Business Interruption Coverage: Cyber insurance may provide coverage for lost income and additional expenses incurred as a result of a cyber incident that disrupts business operations. This coverage helps businesses recover financial losses resulting from downtime, productivity losses, and other impacts of a cyberattack or system outage.

4.Cyber Liability Coverage: Cyber insurance typically includes coverage for third-party liabilities arising from a cyber incident. This may include costs associated with defending against lawsuits, settlements, and judgments resulting from claims of negligence, privacy violations, data breaches, intellectual property infringement, or other cyber-related liabilities.

5.Regulatory Compliance Coverage: Cyber insurance may provide coverage for fines, penalties, and legal expenses resulting from regulatory investigations or enforcement actions related to data protection and cybersecurity compliance. This coverage helps businesses comply with evolving data privacy regulations and mitigate the financial risks of non-compliance.

6.Risk Management Services: In addition to insurance coverage, cyber insurance policies may offer risk management services to help businesses prevent, detect, and respond to cyber threats. This may include cybersecurity assessments, employee training programs, incident response planning, and access to cybersecurity experts and resources.

Coverage Limits and Deductibles: Cyber insurance policies typically have coverage limits and deductibles that determine the maximum amount the insurer will pay for covered losses and the amount the insured must pay out of pocket before coverage applies. Coverage limits and deductibles can vary based on the size and industry of the insured business, as well as the level of risk exposure