A warranty is an assurance from a seller or manufacturer that the goods purchased will not have defects for a certain period of time. In the context of technology M&A warranties are often used to manage risks related to cybersecurity and availability of data.
Security guarantees for data are becoming more popular among distributors. With ransomware projected to cost businesses $265 billion in 2031 and a move to attack every two seconds, it’s no surprise that they offer this new guarantee to their customers. These guarantees limit the financial risk caused by cyberattacks, as they transfer legal responsibility to the vendor. They are typically provided as an additional benefit to cybersecurity insurance to fill in gaps where insurance coverage might not be sufficient.
Security guarantees vary in terms of their specifics but generally include the loss of business revenue in addition to the additional expenses incurred and reputational damage caused by the breach. They may also contain policies meant for legal responsibility, which covers the expenses of letting people affected by an attack to be identified as as any fines or charges that result from lawsuits that could be filed.
While the concept behind a data security policy is a good one, many of them aren’t https://www.toptechno24.com as good. Rubrik offers an “Recovery Incident warranty” that pays for “Recovery Incident-related expenses.” However it does not mean that your employees will be paid for the time spent on recovering. Rubrik will only pay when they have receipts to prove the expenses. This is a tiny red signal.
Lascia un commento