Technology major Microsoft (MSFT) recently announced that it has joined hands with cyber insurance company At-Bay. This partnership comes as part of Microsoft’s multiyear initiative to help the insurance industry create data-driven effective cyber insurance products backed by its security solutions. Following the news, shares of the company gained marginally to close at $284.86 in extended trade on Wednesday. To protect its customers from data breaches and ransomware attacks, some insurance providers have been offering policies to mitigate these risks but seem to be struggling due to a lack of specific expertise.
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