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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 …