Cyber Insurance as an Incentive Mechanism
Mingyan Liu, University of Michigan
This book is intended for anyone interested in obtaining a quantitative understanding of cyber insurance and how innovation is possible around this centuries-old financial instrument.
Insurance as an economic instrument designed for risk management through risk spreading has existed for centuries. Cyber insurance is one of the newest sub-categories of this old instrument. It emerged in the 1990s in response to an increasing impact that information security started to have on business operations. The goal of this book is to shift the focus from a conventional view of using insurance as primarily a risk management mechanism to one of risk control and reduction by looking for ways to re-align the incentives. On this front we have encouraging results that suggest the validity of using insurance as an effective economic and incentive tool to control cyber risk.
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Morgan & Claypool Publishers