Insurability of Cyber Risk: An Empirical Analysis

摘要: This paper discusses the adequacy of insurance for managing cyber risk. To this end, we extract 994 cases losses from an operational risk database and analyse their statistical properties. Based on empirical results recent literature, investigate insurability by systematically reviewing set criteria introduced Berliner (1982). Our findings emphasise distinct characteristics risks compared with other bring to light significant problems resulting highly interrelated losses, lack data severe information asymmetries. These hinder development a sustainable market. We finish discussing how exposure may be better managed make several suggestions future research.