exali Glossary
Your encyclopedia of technical terms used in the insurance industry
The insurance industry is full of technical terms—from insurance policies and obligations to recourse claims. To help you keep track of everything, the exali glossary explains the main insurance terms in a simple, understandable, and practical way.
In the exali glossary, you will find not only definitions, but also practical examples, legal information, and references to the appropriate insurance coverage. This way, you always know where the risks lie—and how to protect yourself against them.
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Cyber Coverage
Cyber coverage offers protection against financial consequences due to a hacker attack, a DoS attack, computer abuse, data espionage or other Internet crime (cyber crime).
Depending on the provider, insurance coverage exists for damage, destruction, modification, blocking or misuse of the policyholder’s IT systems, programs or electronic data as a result of unauthorised interference.
In some cases, the insurer also pays the additional costs incurred, such as for renting third-party IT systems so that business can be kept going and lost sales can be avoided.
(see also first-party cyber and data risks insurance, data protection insurance)
Term: Cyber Coverage
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