With both technology and tech-related threats evolving faster than ever before, supply chain risks have taken on a new meaning in today’s digital world. While traditional supply chain risk management revolved around factors such as strategy, market reality and performance risks, today it must also focus on cybersecurity controls and data breach risk mitigation.
As the world becomes more digitized and cybercrime increases, the need for cyber insurance is something businesses should not overlook. If your company handles, transmits or stores sensitive data, you need to know about cyber insurance.
Cyber insurance is intended to protect businesses from the monetary losses arising from a cyber incident that could jeopardize their future.