Increasing reports of cyber intrusions, data theft and computer-system malfunctions have led a rapidly growing number of companies to purchase insurance coverage to protect themselves from technology and cyber-privacy risks.
As our technology-driven economy continues to evolve and businesses become more reliant on electronic communication and data storage, they are developing a heightened awareness that an unauthorized intrusion could endanger their tangible and intangible assets (including intellectual property) and, in many cases, their reputation and ability to conduct business.
As such, prospective policyholders are becoming more cognizant of the necessity for insurance covering such growing exposures.
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