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Author: Josephine Wolff
Publisher: MIT Press
ISBN: 026237076X
Category : Business & Economics
Languages : en
Pages : 291
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Book 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.
Author: Josephine Wolff
Publisher: MIT Press
ISBN: 026237076X
Category : Business & Economics
Languages : en
Pages : 291
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Book 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.
Author: Dean Armstrong KC
Publisher: Bloomsbury Publishing
ISBN: 1526514141
Category : Law
Languages : en
Pages : 182
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Book Description
Full of tips, case studies, tables and checklists this new title sets out the parameters of liability in respect of potential and actual cyber insurance claims and examines the significant areas where such claims will have the greatest impact. Covering First and Third party insurance, it provides the answers to questions such as: What is the extent to which a data breach can be protected or mitigated against by having suitable insurance in place? How does having insurance interplay with obligations under the GDPR? To what extent can insurance be used to safeguard driverless cars, drones and other AI-machines? How can insurance companies assist when hackers hold companies to ransom after stealing data? How can insurance assist with smart contracts on the blockchain and for potential coding errors? How can insurance mitigate against the hacking of online systems of manned ships?
Author: Joseph Brunsman
Publisher:
ISBN: 9780578664163
Category :
Languages : en
Pages :
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Book Description
Cyber insurance and compliance for the general business community.
Author: Organization for Economic Cooperation and Development
Publisher: Organization for Economic Co-Operation & Development
ISBN: 9789264282131
Category : Computer crimes
Languages : en
Pages : 0
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Book Description
The digital transformation of economic activities is creating significant opportunities for innovation, convenience and efficiency. However, recent major incidents have highlighted the digital security and privacy protection risks that come with an increased reliance on digital technologies. While not a substitute for investing in cyber security and risk management, insurance coverage for cyber risk can make a significant contribution to the management of cyber risk by promoting awareness about exposure to cyber losses, sharing expertise on risk management, encouraging investment in risk reduction and facilitating the response to cyber incidents. This report provides an overview of the financial impact of cyber incidents, the coverage of cyber risk available in the insurance market, the challenges to market development and initiatives to address those challenges. It includes a number of policy recommendations which support the development of the cyber insurance market and contribute to improving the management of cyber risk.
Author: EILEEN R. GARCZYNSKI
Publisher:
ISBN: 9781641055802
Category : Computer insurance
Languages : en
Pages : 31
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Book Description
Author: Christopher A. Myers
Publisher:
ISBN: 9781402431197
Category : Auditing, Internal
Languages : en
Pages : 2384
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Book Description
Representing the combined work of more than forty leading compliance attorneys, Corporate Compliance Answer Book helps you develop, implement, and enforce compliance programs that detect and prevent wrongdoing. You'll learn how to: Use risk assessment to pinpoint and reduce your company's areas of legal exposureApply gap analysis to detect and eliminate flaws in your compliance programConduct internal investigations that prevent legal problems from becoming major crisesDevelop records management programs that prepare you for the e-discovery involved in investigations and litigationSatisfy labor and employment mandates, environmental rules, lobbying and campaign finance laws, export control regulations, and FCPA anti-bribery standardsMake voluntary disclosures and cooperate with government agencies in ways that mitigate the legal, financial and reputational damages caused by violationsFeaturing dozens of real-world case studies, charts, tables, compliance checklists, and best practice tips, Corporate Compliance Answer Book pays for itself over and over again by helping you avoid major legal and financial burdens.
Author: Josephine Wolff
Publisher: MIT Press
ISBN: 026234954X
Category : Computers
Languages : en
Pages : 335
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Book Description
What we can learn from the aftermath of cybersecurity breaches and how we can do a better job protecting online data. Cybersecurity incidents make the news with startling regularity. Each breach—the theft of 145.5 million Americans' information from Equifax, for example, or the Russian government's theft of National Security Agency documents, or the Sony Pictures data dump—makes headlines, inspires panic, instigates lawsuits, and is then forgotten. The cycle of alarm and amnesia continues with the next attack, and the one after that. In this book, cybersecurity expert Josephine Wolff argues that we shouldn't forget about these incidents, we should investigate their trajectory, from technology flaws to reparations for harm done to their impact on future security measures. We can learn valuable lessons in the aftermath of cybersecurity breaches. Wolff describes a series of significant cybersecurity incidents between 2005 and 2015, mapping the entire life cycle of each breach in order to identify opportunities for defensive intervention. She outlines three types of motives underlying these attacks—financial gain, espionage, and public humiliation of the victims—that have remained consistent through a decade of cyberattacks, offers examples of each, and analyzes the emergence of different attack patterns. The enormous TJX breach in 2006, for instance, set the pattern for a series of payment card fraud incidents that led to identity fraud and extortion; the Chinese army conducted cyberespionage campaigns directed at U.S.-based companies from 2006 to 2014, sparking debate about the distinction between economic and political espionage; and the 2014 breach of the Ashley Madison website was aimed at reputations rather than bank accounts.
Author: David L. Banks
Publisher: CRC Press
ISBN: 1498712401
Category : Business & Economics
Languages : en
Pages : 220
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Book Description
Winner of the 2017 De Groot Prize awarded by the International Society for Bayesian Analysis (ISBA)A relatively new area of research, adversarial risk analysis (ARA) informs decision making when there are intelligent opponents and uncertain outcomes. Adversarial Risk Analysis develops methods for allocating defensive or offensive resources against
Author: Ariel Evans
Publisher: Routledge
ISBN: 0429614268
Category : Business & Economics
Languages : en
Pages : 134
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Book Description
Cyber risk is the second highest perceived business risk according to U.S. risk managers and corporate insurance experts. Digital assets now represent over 85% of an organization’s value. In a survey of Fortune 1000 organizations, 83% surveyed described cyber risk as an organizationally complex topic, with most using only qualitative metrics that provide little, if any insight into an effective cyber strategy. Written by one of the foremost cyber risk experts in the world and with contributions from other senior professionals in the field, Managing Cyber Risk provides corporate cyber stakeholders – managers, executives, and directors – with context and tools to accomplish several strategic objectives. These include enabling managers to understand and have proper governance oversight of this crucial area and ensuring improved cyber resilience. Managing Cyber Risk helps businesses to understand cyber risk quantification in business terms that lead risk owners to determine how much cyber insurance they should buy based on the size and the scope of policy, the cyber budget required, and how to prioritize risk remediation based on reputational, operational, legal, and financial impacts. Directors are held to standards of fiduciary duty, loyalty, and care. These insights provide the ability to demonstrate that directors have appropriately discharged their duties, which often dictates the ability to successfully rebut claims made against such individuals. Cyber is a strategic business issue that requires quantitative metrics to ensure cyber resiliency. This handbook acts as a roadmap for executives to understand how to increase cyber resiliency and is unique since it quantifies exposures at the digital asset level.
Author: Ishaani Priyadarshini
Publisher: CRC Press
ISBN: 1000406911
Category : Business & Economics
Languages : en
Pages : 420
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Book Description
This book is the first of its kind to introduce the integration of ethics, laws, risks, and policies in cyberspace. The book provides understanding of the ethical and legal aspects of cyberspace along with the risks involved. It also addresses current and proposed cyber policies, serving as a summary of the state of the art cyber laws in the United States. It also, importantly, incorporates various risk management and security strategies from a number of organizations. Using easy-to-understand language and incorporating case studies, the authors begin with the consideration of ethics and law in cybersecurity and then go on to take into account risks and security policies. The section on risk covers identification, analysis, assessment, management, and remediation. The very important topic of cyber insurance is covered as well—its benefits, types, coverage, etc. The section on cybersecurity policy acquaints readers with the role of policies in cybersecurity and how they are being implemented by means of frameworks. The authors provide a policy overview followed by discussions of several popular cybersecurity frameworks, such as NIST, COBIT, PCI/DSS, ISO series, etc.
