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CyberSecurity Insurance - The Ugly Truth!

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Cybercrimes have been increasing at an alarming rate over the past decade. By 2021, it is estimated that cybersecurity services will account for almost 50% of its total revenue used for security upgrades and maintenance. The most prevalent types of attacks in this field involve using Trojan horses to seize control of an organization's procedures or crippling day to day business processes after launching a distributed denial-of-service attack(DDoS). The consequences that follow any organization that gets in the merciless hands of the attackers is insufferable. First, your clients lose trust in your ability to perform and safeguard their personal information, and it is costly. Imagine a situation where attackers infest your systems with ransomware, and they demand money to stop the attack. This would mean your organization has to incur twice the cost; for paying your attackers, then updating your security protocols. Cybersecurity insurance, also known as cyber liability coverage (CLI...