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Project 4: The Importance of Service Features in Cyber Insurance Policies

Contact: Verena Heisz, Tobias Huber, Oliver Lehmeyer, Stephanie Müller, Andreas Richter

Abstract:
In recent years the term “digitization” was omnipresent in almost all industry sectors. On the one hand this development simplifies many business processes but on the other hand makes companies more prone to suffer high losses due to cybercrime.
Within this project we aim to analyze the German cyber insurance market and classify products, among others, regarding their coverage of first and third party losses as well as service features. In addition, we assess the current cyber risk management of small and medium sized companies based on an own survey.