Why Cyber Insurance Is a Smart Move for Business and Investors

January 24, 2019

Via: Fortune

Cyber security may be an oxymoron: most of us will end up victims of a digital hack at some point (if we haven’t already). So, it’s only natural that people want cyber insurance to help minimize the potential fall out of identity theft or a banking hack.

The U.S. Council of Economic Advisors estimated last year that hacking cost the U.S. economy between $57 billion and $109 billion in 2016. Just last year, hackers stole more than 1.2 billion passwords, which is a ticking time bomb for anyone who’s password was stolen and hasn’t yet changed it.

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