Cyber Insurance Isn’t Just about Having a Policy
People purchase insurance to shift liability—to literally shift the onus of financial responsibility in the wake of a devastating event. Whether by an individual or a national retail giant like The Home Depot, the decision to purchase insurance is based on many factors, including the cost of the insurance over time versus the cost of repair and potentially remuneration in the wake of a disaster. Is it cheaper to take out insurance against an event or to self-insure and absorb the cost immediately at the time the event occurs?
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