Exposure Measures for Pricing and Analyzing the Risks in Cyber Insurance

Abstract

Although available since the 1990s, cyber insurance is still a relatively new product that is ever-changing. The report uses a conceptual approach to identify and evaluate potential exposure measures for cyber insurance. In particular, the report studies the losses that can arise with each cyber insurance coverage and identifies potential exposure measures related to these losses. The report then evaluates these potential exposure measures based on a set of criteria, which include ease of calculation, ability to audit the calculation, strength of relationship to losses, and stability over the period of insurance coverage as well as concerns over privacy laws and regulatory requirements.

Year
2020
Description
Although available since the 1990s, cyber insurance is still a relatively new product that is ever-changing. The report uses a conceptual approach to identify and evaluate potential exposure measures for cyber insurance. In particular, the report studies the losses that can arise with each cyber insurance coverage and identifies potential exposure measures related to these losses. The report then evaluates these potential exposure measures based on a set of criteria, which include ease of calculation, ability to audit the calculation, strength of relationship to losses, and stability over the period of insurance coverage as well as concerns over privacy laws and regulatory requirements.

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