Introduction To Cyber Liability / Cyber Insurance

Info Tech for Managers

Final Term Paper

Introduction to Cyber Liability / Cyber Insurance

2

Abstract:

This paper provides an introduction to the emerging fields of cyber risk and cyber risk insurance.

Despite its increasing relevance for organizations, research on this topic is rather limited. Many

articles can be found in the IT domain, but very little research has been done that relates to the

business world and how it affects managerial decisions. Regardless of the size of the organization,

there are many challenges to adequate insurance coverage and calculating cyber risk. This paper also

highlights the steps businesses can take to mitigate their cyber risk, and the questions they should be

asking in order to fully protect themselves and their organization in general.

Introduction & Motivation

The area of cyber liability and insurance has piqued my curiosity in a number of ways both

academically and professionally. Every day I am surrounded by data breaches, insider threats, and a

whole host of cyber-attacks as part of my job as a cyber analyst. But truth be told, I rarely see the

direct financial implications once a successful attack materializes, nor do I have an inside view to the

policies that mitigate our own security practices. Seeing what decisions are being made at the

upper management levels drives me to investigate this topic even deeper, and may even bridge the

gaps in my current division.