Centro de Documentacion de Fundación MAPFRE - Perceptions of corporate cyber risks and insurance decision-making

MAP20180014680

Perceptions of corporate cyber risks and insurance decision-making / Guido de Smidt, Wouter Botzen

Sumario: This study provides an analysis of individual perceptions of cyber risks amongst professional decision makers. Data are collected using a survey of corporate professionals who are engaged in risk and insurance decision-making in various functional roles mainly in large companies. The study focuses on the perceived probability as well as the anticipated financial impact of cyber risks. Behavioural factorsthe availability heuristic, threshold level of concern, degree of worry and trust in one's own organisation's capabilitiesare found to have significant influences on the perceived probability and impact of cyberattacks. The probability of a successful cyberattack is overestimated, and the financial impact is underestimated. Given the high perceived expected value of cyberattack losses relative to the costs of cyber risk insurance, it appears that professional decision makers deviate from the expected value-based decision-making by being reluctant to insure for cyber risk

En: Geneva papers on risk and insurance : issues and practice. - Geneva : The Geneva Association, 1976- = ISSN 1018-5895. - 02/04/2018 Volumen 43 Número 2 - abril 2018 , p. 239-274

1. Ciberriesgos . 2. Percepción del riesgo . 3. Ciberataques . 4. Seguro de ciberriesgos . 5. Encuestas . 6. Evolución del seguro . 7. Riesgos emergentes . 8. Toma de decisiones . I. Botzen, W. J. Wouter . II. Título.