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Five Approaches To Insuring Cyber Risks, Christopher C. French
Five Approaches To Insuring Cyber Risks, Christopher C. French
Journal Articles
Cyber risks are some of the most dangerous risks of the twenty-first century. Many types of businesses, including retail stores, healthcare entities, and financial institutions, as well as government entities, are the targets of cyber attacks. The simple reality is that no computer security system is completely safe. They all can be breached if the hackers are skilled enough and determined. Consequently, the worldwide damages caused by cyber attacks are predicted to reach $10.5 trillion by 2025. Insuring such risks is a monumental task.
The cyber insurance market currently is fragmented with hundreds of insurers selling their own cyber risk …
Insuring Against Cyber Risk: The Evolution Of An Industry (Introduction), Christopher French
Insuring Against Cyber Risk: The Evolution Of An Industry (Introduction), Christopher French
Journal Articles
Cyber risks are the newest risks of the 21st century. The breadth and cost of cyber attacks are astonishing. Worldwide damages caused by cyber attack are predicted to reach $6 trillion by 2021. Between 2015 and 2017, ransomware damages alone increased from $325 million to approximately $5 billion. In 2017, WannaCry ransomware shut down over 300,000 computer systems across 150 countries.
On April 13, 2018, the Penn State Law Review held a symposium to discuss the evolution of cyber risks and cyber insurance. The symposium was comprised of an eclectic group of legal practitioners and scholars who presented four articles. …