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The MOVEit Hack, Ransomware Attacks, and Cyber Insurance | HUB

Businesses must be prepared for cyberattacks, including potential costs and disruption, and should understand how their insurance policies can cover various costs. Policies may require early notification of breaches to insurers, may cover breach response costs, but may include sublimits for ransomware payments. Defining which costs arise from a ransomware attack versus a security breach can impact a claim. Businesses should review insurance regulations and their coverage to protect against the increasingly sophisticated ransomware threat.

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