A healthcare organization chooses to purchase cyber insurance to cover potential data breach costs. This action is an example of risk ____________.
- Risk Acceptance
- Risk Avoidance
- Risk Mitigation
- Risk Transfer
Risk transfer involves shifting the financial consequences of a risk to another party, often through insurance. In this case, the healthcare organization opts to transfer the potential costs of a data breach to an insurance provider. Recognizing risk transfer mechanisms is essential for organizations seeking to manage and minimize financial liabilities associated with cybersecurity incidents.__________________________________________________
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