Cyber insurance is a specialized insurance product designed to protect businesses and organizations from the financial losses associated with cyber incidents, such as data breaches, hacking, ransomware attacks, and other cyber threats. It typically covers expenses related to data recovery, legal fees, notification costs for affected parties, business interruption, and liability claims. The coverage terms vary among policies, but the primary goal is to mitigate the financial impact of cyber risks and help organizations manage their response to cyber incidents.