Some companies are concerned that if they purchase cyber insurance it would make them bigger targets for hackers. This is a myth. Some companies are concerned that if they purchase cyber insurance it would make them bigger targets for hackers. This is a myth. (Photo: Roman Chazov/Shutterstock.com)

Headlines about large-scale hacks, data breaches, and other types of cyberattacks are in the news every other day. Last year we saw a major uptick in cybercriminal activity in general, and the forecast for 2022 doesn’t look great either. Consequently, more businesses raise the serious question of what they can do to mitigate the risks and improve the odds of surviving an attack. In part, the answer is cyber insurance — an insurance policy designed to protect businesses from the fallout due to cyberattacks, data breaches, and other hacking-related threats.

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