"THE ROLE OF INSURANCE COMPANIES IN COMPENSATING CYBERCRIME VICTIMS"
Keywords:
Cybercrime, Insurance companies, compensation, financial losses, hacking, phishing, cyber fraud, identity theft, cyber-attack, general liability insurance, third-party coverage, lawsuits, cyber insurance.Abstract
This article discusses the increasing importance of insurance companies in compensating victims of cybercrime. With the rise of digital age, cybercrime has become a significant issue and its cost is projected to exceed $8 trillion annually by 2023. The article also outlines some common types of cybercrime, including hacking, phishing, ransomware, and data breaches. Finally, the article explains various types of insurance policies available for individuals and organizations to protect themselves against the financial consequences of cybercrime, such as Cyber Liability Insurance, which provides coverage for data breaches, hacking and phishing attacks, and can cover the costs associated with responding to a cyber-attack.
References
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