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Factors Influencing Cyber Insurance Costs

Several factors can influence the cost of cyber insurance, including the size of your business, the industry in which you operate, and your current cybersecurity measures. For instance, businesses in high-risk industries such as healthcare or finance may face higher premiums due to the sensitive nature of the data they handle. Additionally, companies with robust cybersecurity protocols in place may qualify for lower rates, as they are perceived to be at a reduced risk of cyber incidents.