Cyber Insurance – Effective Mechanism for Protection against Cyber Threat

Cyber Insurance – Effective Mechanism for Protection against Cyber Threat

Cyber insurance is a rapidly developing area which draws more and more attention of practitioners and researchers. Insurance, an alternative way to deal with residual risks, was only recently applied to the cyber world. The immature cyber insurance market faces a number of unique challenges on the w...

Full description

Saved in:
Bibliographic Details
Published in:Zeszyty Naukowe Wyższej Szkoły Finansów i Prawa w Bielsku-Białej Vol. 24; no. 2; pp. 37 - 42
Main Authors: Nana, Shonia, Khurtsidze, Tamila, Mushkudiani, Zurab
Format: Journal Article
Language:English
Published: Publishing House of Bielsko-Biala School of Finance and Law 01-07-2020
Wydawnictwo Wyższej Szkoły Finansów i Prawa w Bielsku-Białej
University of Applied Sciences in Bielsko-Biała
Subjects:
cyber risk
cyber-crime
digital economy
Economy
insurance
Social Sciences
Technology Act
insurance
cybercrime
digital economy
Technology Act
cyber risk
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:Cyber insurance is a rapidly developing area which draws more and more attention of practitioners and researchers. Insurance, an alternative way to deal with residual risks, was only recently applied to the cyber world. The immature cyber insurance market faces a number of unique challenges on the way of its development. In this paper we summarize the basic knowledge about cyber insurance available so far from both market and scientific perspectives. We provide a common background explaining basic terms and formalization of the area. We discuss the issues which make this type of insurance unique and show how different technologies are affected by these issues. We compare the available scientific approaches to analysis of cyber insurance market and summarize their findings with a common view. Finally, we propose directions for further advances in the research on cyber insurance.
ISSN:2543-9103
2543-411X
DOI:10.19192/wsfip.sj2.2020.2