Cyber insurance, which covers a company’s losses and costs stemming from a cyberattack, represents a nearly $5 billion global market. But have stakeholders shaped a sustainable model? This article analyzes contrasting claims about the viability of cyber insurance. It proposes measures to ensure the survival of the cyber insurance market, which should be immediately addressed given the current state of the world and the fact that even pre-COVID-19, businesses worldwide stood to lose over $5.2 trillion over the next five years due to cybercrimes. Unless action is taken to mitigate the fallout from cyber events, the cyber insurance market will indeed continue on its perilous path to insolvency.
Cyber Insurance Today: Saving It Before It Needs Saving,
Cath. U. J. L. & Tech
Available at: https://scholarship.law.edu/jlt/vol29/iss1/4
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