PL EN


2017 | 3(17) | 2 | 33-50
Article title

The cyber-insurance market in Poland and determinants of its development from the insurance broker’s perspective

Content
Title variants
Languages of publication
EN
Abstracts
EN
The aim of the paper is to analyze the state of the cyber-insurance market in Poland, and additionally the identification of key determinants of its development, including such issues as cyber-risk perception and the insurability of cyber-risk. Due to the lack of comprehensive, cross-industry insurance data on cyber-insurance, I decided to collect raw data through my own, computer-aided survey amongst insurance brokers operating in Poland. By conducting the survey amongst insurance brokers it was possible not only to collect data describing the state of Polish cyber-insurance market but also to use their expert opinion on various issues relating to cyber-risk. The research presented here is a pioneer in terms of analysis of a cyber-insurance market in a post-communist country such as Poland which is the most important emerging market in the CEE region as well. My paper makes the research perspective broader as most cyber-insurance industry reports have focused ing on the US, the UK or the developed countries of Western Europe.
Year
Volume
Issue
2
Pages
33-50
Physical description
Dates
published
2017-06-30
Contributors
  • Cracow University of Economics, Faculty of Finance and Law, Department of Risk Management & Insurance, ul. Rakowicka 27, 31-510 Cracow, Poland
References
  • Advisen. (2011, March). Information security and cyber liability risk management. Retrieved April 12, 2016, from http://www.advisenltd.com/wp-content/uploads/Cyber_Risk_Management_Survey_Report.pdf
  • Advisen. (2012, October). Information security and cyber liability risk management. Retrieved April 12, 2016, from http://www.advisenltd.com/wp-content/uploads/Zurich_2012Cyber_SurveyReport.pdf
  • Advisen. (2013, October). Information security and cyber liability risk management. Retrieved April 12, 2016, from http://www.advisenltd.com/wp-content/uploads/information-security-cyber-liability-riskmanagement- zurich-2013-10-18.pdf
  • Advisen. (2014, October). Information security and cyber liability risk management. Retrieved April 12, 2016, from http://www.advisenltd.com/wp-content/uploads/information-security-cyber-liability-riskmanagement- white-paper-10-28-2014.pdf
  • Advisen. (2015, October). Information security and cyber liability risk management. Retrieved April 12, 2016, from http://www.advisenltd.com/wp-content/uploads/2015/10/information-security-cyber-liability-risk-management-report-2015-10-16.pdf
  • Advisen. (2016, October). 2016 Survey of cyber insurance market trends. Retrieved April 17, 2017, from http://www.advisenltd.com/2016/10/25/2016-survey-cyber-insurance-market-trends/
  • Allianz. (2015). A guide to cyber risk. Managing the impact of increasing interconnectivity. Retrieved November 12, 2015, from www.agcs.allianz.com
  • AON. (2016a). Cyber-the fast moving target. Retrieved April 17, 2017, from http://www.aon.com/attachments/risk-services/cyber/2016-Captive-Cyber-Survey-Interactive.pdf
  • AON. (2016b). Zarządzanie ryzykiem i ubezpieczeniami w firmach w Polsce. Report AON Poland 4th edition. Retrieved July 12, 2016, from http://insight.aon.com/PL_2016ARSNEWS_DownloadAonPL
  • Ayers, E. (2015, October 8). Advisen Loss Insight: Europe’s cyber and privacy landscape. Cyber Risk Network. Retrieved July 20, 2016, from http://www.cyberrisknetwork.com/2015/10/08/advisen-loss-insight-europes-cyber-and-privacy-landscape/
  • Berliner, B. (1982). Limits of insurability of risks. Englewood Cliffs, NJ: Prentice-Hall.
  • Eling, M., & Schnell, W. (2016, November). Ten Key Questions on Cyber Risk and Cyber Risk Insurance. The Geneva Association. Retrieved April 18, 2017, from https://www.genevaassociation.org/media/954708/cyber-risk-10-key-questions.pdf
  • Eling, M., & Wirfs, J.H. (2016). Cyber risk: Too big to insure?. University of St. Gallen. Retrieved April 15, 2016, from http://www.ivw.unisg.ch/~/media/internet/content/dateien/instituteundcenters/ivw/studien/cyberrisk 2016.pdf
  • Glascott, M.T., & Aisen, A.J. (2013). The emperor’s new clothes and cyber insurance. Federation of Defense & Corporate Counsel Quarterly, Spring 2013, 200-225. Retrieved May 3, 2016, from http://www.thefederation.org/documents/22.The%20Emperors%20New%20Clothes.pdf
  • Gordon, L.A., Loeb, M.P., & Sohail, T. (2003). A framework for using insurance for cyber-risk management. Communications of the ACM, 44(9), 70-75.
  • Marsh. (2015, October). European 2015 cyber risk survey report. Retrieved April 11, 2016, from http://uk.marsh.com/Portals/18/Documents/European%202015%20Cyber%20Risk%20Survey%20Report-10-2015.pdf
  • RMS. (2016, February). Managing cyber insurance accumulation risk. Risk Management Solutions, Cambridge Centre for Risk Studies. Retrieved May 12, 2015, from www.cambridgeriskframework.com/getdocument/39
  • SANS. (2016, June). Bridging the Insurance/InfoSec Gap: The SANS 2016 Cyber Insurance Survey. Retrieved July 1, 2016, from https://www.sans.org/reading-room/whitepapers/legal/bridging-insurance-infosec-gap-2016-cyber-insurance-survey-37062
  • Sigma. (2017). Cyber: getting to grips with a complex risk. Sigma, 1/2017, SwissRe Institute. Retrieved April 18, 2017, from http://www.swissre.com/library/sigma_01_2017_en.htm
Document Type
Publication order reference
Identifiers
YADDA identifier
bwmeta1.element.desklight-c14a26e4-768c-484f-aaca-c3415761c2a1
JavaScript is turned off in your web browser. Turn it on to take full advantage of this site, then refresh the page.