Cyber Insurance and Risk Assessment: Some Insights on the Insurer Perspective

Cyber insurance is a crucial tool for managing risks associated with cyber threats. A challenging task for insurance companies lies in pricing cyber risk. Our study is motivated by the reasonable assumption that firms entering into cyber insurance contracts face diverse cyber threats in terms of types and magnitude. Considering these differences ensures that premiums align with the actual risk exposure of the insured. The study discusses this approach proposing a case study based on the Chronology of Data Breaches provided by the Privacy Rights Clearinghouse.