Challenges of Insuring Cyber Risks
Jaafar Kadhim Jebur, Amany Tammouz Abdul Rahman
Although cyber risk insurance is a distinctive means for some businesses to cover losses and expenses resulting from those risks, this type of insurance still faces many challenges and constraints that hinder its growth and development compared to traditional risk insurance. These challenges can generally be classified into two main categories: Technical challenges related to the pricing of cyber risk insurance premiums and companies' fear of covering this type of risk, and legal challenges of the lack of legal rules on cyber risk insurance adding the ambiguity of the language of the contract.
Keywords: Challenges, Cyber, Insurance, Risk, Business companies, Legislation
