Data Breach, Privacy, and Cyber Insurance: How Insurance Companies Act as “Compliance Managers” for Businesses

Talesh, Shauhin A.

doi:10.1111/lsi.12303

Cited by 63 publications

(33 citation statements)

References 26 publications

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“…Organizations face difficult challenges in terms of complying with these laws. Although many organizations do have formal policies in place, the majority of organizations do not believe that they are sufficiently prepared for a data breach, do not devote adequate money, training, and resources toward protecting consumer's electronic information from data breaches, and fail to perform proper risk assessments (Talesh 2017a).…”

Section: Insurance Company Intermediation Of Privacy Law and Data Theftmentioning

confidence: 99%

How Legal Intermediaries Facilitate or Inhibit Social Change

Talesh¹,

Pélisse²

2019

Studies in Law, Politics, and Society

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This article explores how legal intermediaries facilitate or inhibit social change. We suggest the increasing complexity and ambiguity of legal rules coupled with the shift from government to governance provides legal intermediaries greater opportunities to influence law and social change. Drawing from new institutional sociology, we suggest rule intermediaries shape legal and social change, with varying degrees of success, in two ways: (1) law is filtered through non-legal logics emanating from various organizational fields; (2) law is professionalized and increasingly filtered through and by non-legal professionals with varying degrees of connection to law. We draw from case studies in the United States and France to show how intermediaries facilitate or inhibit social change.

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Section: Insurance Company Intermediation Of Privacy Law and Data Theftmentioning

confidence: 99%

How Legal Intermediaries Facilitate or Inhibit Social Change

Talesh¹,

Pélisse²

2019

Studies in Law, Politics, and Society

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“…Young (2016) in his thesis presented a framework which incorporates the operating principles of the insurance industry in order to provide quantitative estimates of cyber risk. Talesh (2017a) wrote that insurance companies play a critical role in assisting companies to comply with privacy laws and deal with cyber theft. In the cyber context, the insurance industry tries to engage in loss prevention and does so in a manner that is focused on managing and averting the risks associated with data breaches.…”

Section: Literature Reviewmentioning

confidence: 99%

State of the cyber insurance products within Slovenian insurance companies

Kavčič

Delak

2019

OJAKM

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With the growing prevalence of cyber threats and cyber attacks enterprises have to manage their cyber risks. There are several risk strategies for cyber risk mitigation. One of them is to transfer the cyber risk to insurance companies through the so called “cyber insurance”. Cyber insurance is an insurance package used to protect companies and individuals from Internet risks, Internet of things risks, and risks associated with information technology infrastructure and activities. It is estimated that approximately 85% to 90% of the cyber insurance market is located in the United States while the European market is estimated to account for approximately 5% to 9%. With the exception of the Baltic countries, smaller countries have problems raising cyber risk awareness within their countries. This paper describes the results of our survey on availability of cyber insurance products in Slovenia. Results show that currently only a few insurance companies even offer cyber insurance products. On the other hand, the survey shows that regulators did not issue any guidelines to insurance companies to develop such insurance products. The aim of this paper is to raise awareness about the potential of cyber insurance products among scholars, insurance stakeholders, regulators, and also among potential clients.

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“…Privacy of customers is of primary importance in all phases of the lifecycle of insurance policies, spanning from the early product design to its provision and 'delivery' to the customer (Talesh, 2018). However, for the given application domain we address in the present article, there is also a need for a broader approach to the notion of ethics.…”

Section: Foundations Of Ethical Insurance Productsmentioning

confidence: 99%

Ethics, Legal and Privacy Concerns for the Next Generation of Insurance Policies

Deck

Riedl

Koumpis

2019

Tékhne

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We present a set of hypothetical scenarios and cases where the need for access, sharing and processing of sensitive personal information increases the transparency of the customer to buyer relationship, although it may irreversibly damage the customer’s sphere of privacy. Highly personalised early risk prediction models for use by insurance companies to estimate the probability that a specific event (heart infarct) or a disease (diabetes) occurs in a given individual over a predefined time can enable earlier and better intervention, prevent negative consequences on a person’s quality of life and thus result in improved individual health outcomes. The challenge is to design, develop and validate new generations of comprehensive models that will be the result of a consensual process with the customers and will be based on artificial intelligence and other state-of-the-art technologies using multiple available data resources and will integrate them in personalised insurance policy pathways that empower the customers to actively contribute to their own individual health-risk mitigation and prevention.

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Data Breach, Privacy, and Cyber Insurance: How Insurance Companies Act as “Compliance Managers” for Businesses

Cited by 63 publications

References 26 publications

How Legal Intermediaries Facilitate or Inhibit Social Change

How Legal Intermediaries Facilitate or Inhibit Social Change

State of the cyber insurance products within Slovenian insurance companies

Ethics, Legal and Privacy Concerns for the Next Generation of Insurance Policies

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