Role of Cyber Insurance in Managing Digital Risk

Abstract

In an increasingly digital world, government, businesses and individuals found themselves facing a new wave of challenges — the ones spurred by the digital age. Data breaches, ransomware attacks, and other cyber incidents can have devastating consequences, ranging from financial losses to reputational damage. In this context, cyber insurance has emerged as a critical component of a comprehensive risk management strategy. In this article, we will explore the significance and implications of cyber security insurance in today’s digital landscape. By analyzing the importance of cyber insurance in an increasingly digital world, we get some information about its role and necessity; we also acquire the knowledge about strong and weak sides of cyber insurance.