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 insurance can be an effective instrument to transfer cyber risk and complement the benefits from technological controls that guard the IS (information and network) assets in organizations. This research attempts to identify the factors that could explain the proclivity of adoption of cyber insurance in managing cyber risk of an organization. Grounded on the context based TOE framework of ...

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...

Recently, with the growing number of cyber-attacks and the constant lack of effective and state-of-art defense methods, cyber risks become ubiquitous in enterprise networks, manufacturing plants, and government computer systems. Cyber-insurance has become one of the major ways to mitigate the risks as it can transfer the cyber-risks to insurance companies and improve the security status of the ...

[email protected] • [email protected] • [email protected] Abstract Firms often manage cyber risks first by investing in security technologies and then by purchasing cyber insurance to cover for residual risk. However, despite the increasing dependence of firms on information assets, a mature market for cyber insurance is yet to emerge. Lack of actuarial data, market inexperience and account...

Internet users such as individuals and organizations are subject to different types of epidemic risks such as worms, viruses, spams, and botnets. To reduce the probability of risk, an Internet user generally invests in traditional security mechanisms like anti-virus and anti-spam software, sometimes also known as self-defense mechanisms. However, such software does not completely eliminate risk...

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...

Cyber insurance is a valuable approach to mitigate further the cyber risk and its loss in addition to the deployment of technological cyber defense solutions such as intrusion detection systems and firewalls. An effective cyber insurance policy can reduce the number of successful cyber attacks by incentivizing the adoption of preventative measures and the implementation of best practices of the...

We propose a comprehensive formal framework to classify all market models of cyber-insurance we are aware of. The framework features a common terminology and deals with the specific properties of cyber-risk in a unified way: interdependent security, correlated risk, and information asymmetries. A survey of existing models, tabulated according to our framework, reveals a discrepancy between info...

While data theft and cyber risk are major threats facing organizations, existing research suggests that most organizations do not have sufficient protection to prevent data breaches, deal with notification responsibilities, and comply with privacy laws. This article explores how insurance companies play a critical, yet unrecognized, role in assisting organizations in complying with privacy laws...