Ransomware is a type of malware or malicious software that hacks the computer system and locks important files to extort money from business owners. Cyber criminals use this technique to access the company’s sensitive information and then demand ransom for the information exchange. This widespread cyberattack may damage the company’s reputation, PR, and finances. The best way to prevent a ransomware attack is to get cyber insurance. 

You should get cyber insurance if your business relies significantly on technology and stores sensitive information. Furthermore, if you can not afford downtime and your company has to comply with rules and regulations, you should get cyber insurance. Cyber insurance will help you with the recovery costs and streamline operational flow.