Research On Development Of Cyber Insurance

The Internet has permeated into every aspect of life,as reports of data breaches become commonplace,people cannot ignore the influence and impact that the Internet posed.Both the frequency and the loss degree of network risk are increasing year by year,but it is difficult to detect and deal with,which requiring active management,and most companies are not jumping on the insurance bandwagon yet.For insurance industry,recently the focus has gradually turned to "let insurance return to its essence".The essence of insurance is risk,therefore we should focus on the understanding and management of risk,to improve individual safety level through insurance products and services,and then carry out risk management for the whole industry and even the whole society.In view of the widespread network related losses and loss compensation liability,this paper will take enterprises as the research object and focus on the cyber risks faced by enterprises.Due to the complexity and relevance of cyber risks,the risks faced by different subjects are unique.Therefore,cyber insurance is different from traditional property and liability insurance,which is also the motivation for this paper.Insurance industry relies on the development mode of insurance product alone already cannot satisfy the development requirement of insurance industry,new development direction is the combination of insurance safeguard and risk management service,will safeguard by afterwards carry to advance beforehand,provide comprehensive safety safeguard to insured.This paper is divided into seven parts.The first part is the introduction,including the research background and significance,literature review,research methods and content,and finally the innovation points and deficiencies of the paper.The second part is the overview of cyber insurance,containing the description of the generation and development background of cyber insurance,and introduces the related concepts,development process and coverage of network security insurance.The third part is the introduction and analysis of the basic concepts of cyber insurance,which is divided into the analysis of insurance utility function,the moral hazard and adverse selection,and the discussion of the risk management function of insurance.The fourth part is the transmission mechanism of cyber insurance to realize its risk management function,including the specific service process and a related cases about network security and cyber insurance.The fifth part mainly narrated the cyber insurance further consummation and the development difficulty.The sixth part puts forward five suggestions on how to give full play to the risk management of cyber insurance.