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Understanding Tech Insurance: What You Need to Know
In today's fast-paced digital landscape, tech insurance is more crucial than ever. Whether you're a startup, small business, or a large corporation, having the right tech insurance can safeguard your operations against unforeseen risks. Tech insurance typically covers areas such as cybersecurity breaches, data loss, and technology errors or omissions, providing peace of mind and financial protection.
As businesses increasingly rely on technology, the potential for cyber threats and data breaches has skyrocketed. According to a recent study, the average cost of a data breach in 2023 was approximately $4.45 million, highlighting the importance of comprehensive coverage1. This makes obtaining tech insurance not just a precaution, but a necessity.