Challenges of Insuring Cyber Risks

Jaafar Kadhim Jebur; Amany Tammouz Abdul Rahman

doi:10.57239/PJLSS-2024-22.1.00161

Author(s)

Jaafar Kadhim Jebur College of Law, University of Misan,,

Amany Tammouz Abdul Rahman College of Law, University of Misan,,

Abstract

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.

Publication Details

Page(s) 2184-2191

DOI 10.57239/PJLSS-2024-22.1.00161

Published Journal: Pakistan Journal of Life and Social Sciences, Volume: 22, Issue: 1, Year: 2024

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Keywords

Challenges Cyber Insurance Risk Business companies Legislation

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