cyber risk exposure and prospects for cyber insurance

Cyber Risk Exposure and Prospects for Cyber Insurance

This study draws attention to the ubiquitous and borderless nature of cybercrime. It examines the prospect of introducing customized cyber insurance policy in the Nigerian market. As secondary data was not available, the study conducted a survey by administering three sets of questionnaire to purposively selected top executives in four Trade Groups that rely heavily on Internet transactions for...

cyber warfare and cyber terrorism

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Cyber-Insurance: Copula Pricing Framework and Implication for Risk Management

In recent years there has been a growing stream of research focusing on cyber-insurance. Risk transference with insurance has been suggested by both practitioners and academics to absorb losses caused by security breaches as well as to supplement the existing set of security tools to manage IT security residual risk after IT security investments are made. In this paper, we investigate pricing o...

Cyber-Insurance Revisited

Cyber-insurance is considered as appropriate means to absorb financial losses caused by computer security breaches. Since insurance markets at the same time create incentives to construct more secure systems, they are regarded as particularly desirable tools. However, this paper argues that the typical market structure in IT businesses may thwart the formation of a proper insurance market for c...

Cyber Insurance and IT Security Investment: Impact of Interdependence Risk

A Novel Cyber-Insurance for Internet Security

Internet users such as individuals and organizations are subject to different types of epidemic risks such as worms, viruses, and botnets. To reduce the probability of risk, an Internet user generally invests in self-defense mechanisms like antivirus and antispam software. However, such software does not completely eliminate risk. Recent works have considered the problem of residual risk elimin...