Cyberinsurance Policy
Why cyberinsurance has not improved cybersecurity and what governments can do to make it a more effective tool for cyber risk management. As cybersecurity incidents—ranging from data breaches and denial-of-service attacks to computer fraud and ransomware—become more common, a cyberinsurance industry...
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| Định dạng: | Online |
| Ngôn ngữ: | Tiếng Anh |
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The MIT Press
2022
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| Những chủ đề: | |
| Truy cập trực tuyến: | ONIX_20221025_9780262370752_19 |
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| _version_ | 1869525099805147136 |
|---|---|
| author | Wolff, Josephine |
| author_browse | Wolff, Josephine |
| author_facet | Wolff, Josephine |
| author_sort | Wolff, Josephine |
| collection | Directory of Open Access Books |
| description | Why cyberinsurance has not improved cybersecurity and what governments can do to make it a more effective tool for cyber risk management. As cybersecurity incidents—ranging from data breaches and denial-of-service attacks to computer fraud and ransomware—become more common, a cyberinsurance industry has emerged to provide coverage for any resulting liability, business interruption, extortion payments, regulatory fines, or repairs. In this book, Josephine Wolff offers the first comprehensive history of cyberinsurance, from the early “Internet Security Liability” policies in the late 1990s to the expansive coverage offered today. Drawing on legal records, government reports, cyberinsurance policies, and interviews with regulators and insurers, Wolff finds that cyberinsurance has not improved cybersecurity or reduced cyber risks. Wolff examines the development of cyberinsurance, comparing it to other insurance sectors, including car and flood insurance; explores legal disputes between insurers and policyholders about whether cyber-related losses were covered under policies designed for liability, crime, or property and casualty losses; and traces the trend toward standalone cyberinsurance policies and government efforts to regulate and promote the industry. Cyberinsurance, she argues, is ineffective at curbing cybersecurity losses because it normalizes the payment of online ransoms, whereas the goal of cybersecurity is the opposite—to disincentivize such payments to make ransomware less profitable. An industry built on modeling risk has found itself confronted by new technologies before the risks posed by those technologies can be fully understood. |
| format | Online |
| id | doab-20.500.12854ir-93165 |
| institution | Directory of Open Access Books |
| language | eng |
| publishDate | 2022 |
| publishDateRange | 2022 |
| publishDateSort | 2022 |
| publisher | The MIT Press |
| publisherStr | The MIT Press |
| record_format | ojs |
| spelling | doab-20.500.12854ir-931652024-03-30T02:53:22Z Cyberinsurance Policy Wolff, Josephine Cybersecurity cyberinsurance cyber risk management history of insurance systemic risk catastrophic risk interconnected risk thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry::KFFN Insurance and actuarial studies thema EDItEUR::U Computing and Information Technology::UT Computer networking and communications::UTN Network security thema EDItEUR::J Society and Social Sciences::JP Politics and government::JPR Regional, state and other local government::JPRB Regional, state and other local government policies Why cyberinsurance has not improved cybersecurity and what governments can do to make it a more effective tool for cyber risk management. As cybersecurity incidents—ranging from data breaches and denial-of-service attacks to computer fraud and ransomware—become more common, a cyberinsurance industry has emerged to provide coverage for any resulting liability, business interruption, extortion payments, regulatory fines, or repairs. In this book, Josephine Wolff offers the first comprehensive history of cyberinsurance, from the early “Internet Security Liability” policies in the late 1990s to the expansive coverage offered today. Drawing on legal records, government reports, cyberinsurance policies, and interviews with regulators and insurers, Wolff finds that cyberinsurance has not improved cybersecurity or reduced cyber risks. Wolff examines the development of cyberinsurance, comparing it to other insurance sectors, including car and flood insurance; explores legal disputes between insurers and policyholders about whether cyber-related losses were covered under policies designed for liability, crime, or property and casualty losses; and traces the trend toward standalone cyberinsurance policies and government efforts to regulate and promote the industry. Cyberinsurance, she argues, is ineffective at curbing cybersecurity losses because it normalizes the payment of online ransoms, whereas the goal of cybersecurity is the opposite—to disincentivize such payments to make ransomware less profitable. An industry built on modeling risk has found itself confronted by new technologies before the risks posed by those technologies can be fully understood. 2022-10-25T08:59:55Z 2022-10-25T08:59:55Z 2022 book ONIX_20221025_9780262370752_19 9780262370752 9780262544184 https://directory.doabooks.org/handle/20.500.12854/93165 eng Information Policy image/jpeg Attribution-NonCommercial-NoDerivatives 4.0 International https://doi.org/10.7551/mitpress/13665.001.0001 The MIT Press The MIT Press 10.7551/mitpress/13665.001.0001 10.7551/mitpress/13665.001.0001 ae0cf962-f685-4933-93d1-916defa5123d 9780262370752 9780262544184 The MIT Press 296 Cambridge open access |
| spellingShingle | Cybersecurity cyberinsurance cyber risk management history of insurance systemic risk catastrophic risk interconnected risk thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry::KFFN Insurance and actuarial studies thema EDItEUR::U Computing and Information Technology::UT Computer networking and communications::UTN Network security thema EDItEUR::J Society and Social Sciences::JP Politics and government::JPR Regional, state and other local government::JPRB Regional, state and other local government policies Wolff, Josephine Cyberinsurance Policy |
| title | Cyberinsurance Policy |
| title_full | Cyberinsurance Policy |
| title_fullStr | Cyberinsurance Policy |
| title_full_unstemmed | Cyberinsurance Policy |
| title_short | Cyberinsurance Policy |
| title_sort | cyberinsurance policy |
| topic | Cybersecurity cyberinsurance cyber risk management history of insurance systemic risk catastrophic risk interconnected risk thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry::KFFN Insurance and actuarial studies thema EDItEUR::U Computing and Information Technology::UT Computer networking and communications::UTN Network security thema EDItEUR::J Society and Social Sciences::JP Politics and government::JPR Regional, state and other local government::JPRB Regional, state and other local government policies |
| topic_facet | Cybersecurity cyberinsurance cyber risk management history of insurance systemic risk catastrophic risk interconnected risk thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry::KFFN Insurance and actuarial studies thema EDItEUR::U Computing and Information Technology::UT Computer networking and communications::UTN Network security thema EDItEUR::J Society and Social Sciences::JP Politics and government::JPR Regional, state and other local government::JPRB Regional, state and other local government policies |
| url | ONIX_20221025_9780262370752_19 |
| work_keys_str_mv | AT wolffjosephine cyberinsurancepolicy |