Cyber
Cyber insurance is a specialized insurance product designed to protect businesses and organizations from the financial losses associated with cyber incidents. Examples are data breaches, hacking, ransomware attacks, malware and other cyber threats. It typically covers expenses related to data recovery, legal fees, notification costs to affected parties, business interruption and liability claims. The coverage terms vary between policies, but the primary goal is to mitigate the financial impact of cyber risks and help organizations manage their response to cyber incidents..
Commercial Crime
Commercial Crime Insurance protects a business against financial losses caused by dishonest or fraudulent acts committed by employees or other specified individuals. It can cover losses arising from theft of money or property, fraud, forgery, embezzlement, computer fraud, and other forms of employee dishonesty. It is particularly important because standard business insurance policies generally do not cover losses caused intentionally by an employee. In simple terms, Commercial Crime Insurance protects your business when someone you trust steals from or defrauds the business, helping to recover the resulting financial loss.