Information Technology Reference
In-Depth Information
Appendix K: e-insurance
E-insurance plays a role in organizational risk management; the following sections
expand on E-insurance details of business benefits, an E-insurance model, and pos-
sible E-insurance coverage.
Business Benefit
“By writing policies for network security exposures, the insurance industry is
providing:
n
n
Vital risk transfer for network security exposures;
Incentives for network security best practices, including lower insurance pre-
miums; and
Improved cyber-risk management and education.”
n
Risk prevention services are available as part of the application process; some
insurance carriers offer an online or on-site security assessment free of charge,
regardless of whether the applicant purchases the insurance. This is helpful to the
underwriting process and provides extremely valuable analysis/information to the
company's chief technology officer, risk manager, and other senior executives.
e-insurance Model
A comprehensive E-insurance framework includes:
Insurance Information Institute,
Most Companies Have Cyber-Risk Gaps in Their Insurance Cover Cover-
age
, 2003.
Remember, you get what you pay for.
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