CYBER INSURANCE: EVALUATING THE RESILIENCE OF DIGITAL RISK MITIGATION STRATEGIES

Abstract

Cyber insurance has emerged as a critical component of digital risk mitigation strategies in today's interconnected and data-driven business environment. This review research paper evaluates the resilience of cyber insurance policies and their effectiveness in addressing cyber risks. Through a comprehensive analysis of existing literature, this paper examines the key features of cyber insurance, including coverage types, policy limits, premium structures, and claims processes. It also explores the challenges and limitations associated with cyber insurance, such as underwriting complexities, coverage exclusions, and evolving cyber threats. Moreover, this paper discusses the role of cyber insurance in promoting cyber resilience, enhancing risk management practices, and fostering cybersecurity awareness among organizations. The findings of this review contribute to a better understanding of cyber insurance's role in mitigating digital risks and provide insights into future trends and developments in this domain.