In the world of increasing data breaches, there’s been the emergence of a new market: the market of cyber and privacy insurance. We’ve moved on from worrying about the security of actual, physical stuff. Now we’re more worried about our data being stolen. Our credit card numbers, a business’s secret, proprietary information, or even worse: our, um...browser history.
What cyber and privacy insurance policies cover varies, just like any insurance policy, but in general they cover financial losses that result from the fallout of data breaches or lost data.
The main thing businesses and consumers are worried about is one and the same: personal identifying information, like bank info, your social security number, and other forms of data that hackers can use (or sell) for identity theft. Like if someone opens a credit card in your name because they have all the right info, and then just goes nuts.
A cybersecurity hint from one Shmooper to another: never click on sketchy email links. No matter how starved you are for new reading material.