3 résultats pour « cyber insurance »
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This paper analyzes cyber risk severity and tail risk using three databases. Malicious cyber incidents show increased severity since 2018, while negligent incidents decline. Cyber loss distributions are extremely heavy-tailed. Findings highlight the need for dynamic, category-specific risk management and insurance pricing.
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The challenge for cyber insurers lies in the scarcity of data, hindering risk assessment and product development. Organizations fear sharing information due to the risk of further attacks. Balancing transparency with discretion is crucial. With better data sharing, insurers can offer tailored products, assess risks accurately, and enhance corporate compliance.
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The study investigates how opting for cyber insurance impacts firms' risk management. It reveals that while cyber insurance often decreases proactive risk prevention (ex-ante moral hazard), it enhances post-breach mitigation efforts, improving outcomes. The key lies in contract design balancing breach coverage and co-insurance rates, emphasizing the need for a robust risk mitigation market in cybersecurity management.
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