In essence, cyber liability insurance is a financial safety net for your digital risks. It’s a specialized policy designed to cover the immense costs your business would face after a cyber event, like a data breach or ransomware attack. This includes expenses for legal defense, notifying customers, credit monitoring services, public relations to restore your reputation, and hiring forensic experts to investigate the incident. It protects your company’s finances from the potentially devastating fallout of a modern digital threat, allowing you to recover and continue operating.