Manufacturing's Game-Changing Cyber Liability Risk Solution Awaits
Understanding Cyber Liability Insurance
Cyber liability insurance has emerged as a vital tool for manufacturers to mitigate the financial impact of cyber incidents. This specialized insurance covers costs associated with data breaches, including legal fees, notification expenses, and potential regulatory fines. It can also cover business interruption losses and ransom payments. With the average cost of a data breach in the manufacturing sector reaching $4.24 million in 20212, having robust cyber liability coverage is not just a precaution but a necessity.