Cyber Insurance
Insurance coverage designed to mitigate the financial impact of cyber incidents including data breaches, ransomware attacks, business interruption, and regulatory fines.
Cyber insurance helps businesses recover financially from cyber incidents. Policies typically cover breach notification costs, forensic investigation, legal fees, regulatory fines, business interruption losses, and sometimes ransom payments. In Malaysia, cyber insurance is offered by major insurers and is increasingly recommended for SMEs handling customer data. However, insurers typically require basic security controls (firewalls, backups, MFA) as conditions for coverage.