Law Commons^™

Since this country was created, the insurance industry has been principally

regulated by the states with infrequent Congressional interventions.

As the insurance industry has evolved in recent decades, however, individual

states have become unable to adequately regulate some insurers, such

as multinational insurers and foreign insurers, because they lack jurisdiction

over such entities. Simply having the federal government assume responsibility

for regulating insurers will not solve the current regulatory

problems, however, because Congress’ past forays into regulating certain

areas of insurance generally have yielded poor results. Consequently, this

Article makes the novel proposal and argument that, with the creation of …

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. …