Is cyber liability insurance an answer against growing cyber threats?

Companies are exposed to a large number of external dangers that they are often not even aware of. Evolving and technological advancements have brought evils that did not exist before, increase each year in the form of cyber risks.

It also adds irreversible damage to the corporate reputation of the company if it fails to mitigate and manage a data breach. At present, cyber risk is a real risk. Suffering an attack of this type can have dire consequences, like loss of data and company reputation. In such cases, the need for cyber insurance was realised,  enabling companies to insure their data and protect it from theft.

The significance of the cyber liability insurance cannot be undermined, but it is necessary to determine the effectiveness of cyber insurance. To do this, this FCII dissertation explores the following:

• cyber liability insurance and its significance

• types of cyber liability insurance and coverage extent

• effectiveness of cyber insurance

• issues and limitations of cyber liability insurance

• role of cyber insurance in preventing companies from cyber-attacks

• coverage of cyber liability insurance

• cyber liability for SMEs

• evaluating cyber insurance as an answer to growing cyber threats 

Read the dissertation HERE