Should Your Firm Invest in Cyber Risk Insurance?
20 Pages Posted: 15 Dec 2011
Date Written: December 14, 2011
Firms have increasingly been turning to cyber risk insurance to better manage the cyber threat and any resulting legal liability from data breaches. But how useful is cyber risk insurance? This Article analyzes the impact of cyber attacks on firms, some of the applicable U.S. law shaping private sector responses to data breaches, and the extent to which cyber risk insurance helps to mitigate the cyber threat. Ultimately I argue that firms must take a proactive strategy to manage cyber attacks for their competitive well-being as well as to enhance overall cyber-security and help secure critical national infrastructure.
Keywords: Cybersecurity, Internet, Cyber Risk Insurance, Cyber Attack, Data Breach, Cyber Law
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