It’s no surprise that more distributors provide buyers the latest warranty which is the cybersecurity assurance. Data loss is projected to cost businesses $265 billion by 2031. These guarantees are designed to mitigate the economic risks of cyberattacks and eliminate by copying liability to the vendor, often to fill in the gaps where insurance may not be able to cover a loss.
Nevertheless there are many different warranties for cybersecurity are the same. Certain warranties have strict terms which could leave your business paying a large price towards data return, especially when you’re not familiar with the details. Most technology warranties, for example that limit payments based on how much the vendor has invested in their product. This isn’t very helpful, as the value of a particular record in Cohesity FortKnox may be more than the cost of a license to a technology vendor.
For example, if you’re one of the Rubrik customer and are not able recover your data due to an attack by ransomware their warranty will cover for what they call “Recovery Incident Expenses.” However they need receipts for the number of hours employees devote to the recovery process. This is a red flag since the cost of loss of productivity by employees could be more than the time they spent using the software over that period. In this way, incorporating representations and warranties that concentrate on the legal processing of data right down to the smallest https://www.toptechno24.com/intensive-complex-performance-with-virtual-data-room division of a business could help to reduce risk that is costly during M&A transactions.
