Cyber Insurance
Definition
Cyber insurance is a specialized insurance product that helps organizations mitigate the financial impact of cyber incidents — including data breaches, ransomware, and business interruption — by covering costs such as forensics, legal fees, notification, and recovery.
Buyer context
Cyber insurers increasingly require policyholders to demonstrate baseline security controls such as MFA, EDR, and 24/7 monitoring. Working with a SOC provider can help organizations meet these requirements and may result in lower premiums. In the event of a claim, the SOC provider's logs and incident documentation serve as critical evidence.