Section of the journal:
Finance
Pages:
74-81
Bibliographic description of the article
Kuvaldina, T. B. INSURING INFORMATION SECURITY RISKS AND ENHANCING CYBER CULTURE / T. B. Kuvaldina, K. E. Sledneva. – Text : direct //
Innovative Economics and Society. – 2024. – № 3 (45). – С. 74-81
Abstract
Cyber risk has become a new dangerous phenomenon of the 21st century. One of the tools that can significantly reduce the likelihood and scope of damage from this type of threat is insurance. Cyber insurance offers a good opportunity to transfer risks to insurance companies and therefore can contribute to effective risk management. However, cyber risk management is still underdeveloped in companies and requires significant development. The re-sults of the study emphasize the growing importance of insurance for information security risks, but also a certain skepticism towards insurance solutions. Despite this, cyber insurance is currently emerging as a major new insurance market, the importance of which will increase significantly in the coming years. The paper reveals the top 10 incidents in the industry 2021-2024, the forecast of the Russian cybersecurity market, the essence of cyber insurance as one of the tools to minimize financial damage in case of unauthorized access to data in the system or computer of the organization. The paper illustrates the advantages and disadvantages of relevant protective measures and insurance solutions currently offered by insurers. The authors emphasize the need to take measures to strengthen cybersecurity and enhance cyber culture in order to minimize possible threats and ensure macrofinancial stability.
Article keywords
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