Private Cyber Security Insurance

Insurance giant AIG has recently started selling “personal cyber security insurance”. Corporate cyber security insurance has been around for a while with interesting consequences. Making claims has often been difficult for customers because of the way that the policies are written. This is a very interesting concept for a private individual because it will be hard to determine damages from certain attacks. Not all attacks result in the loss of money or can be directly associated with a cash theft. How do you value someone’s privacy in the example of an email breach or a social media breach?

It sounds like AIG is currently just targeting the wealthy with this product but it will be interesting to see how this will progress in the near future as we become far more dependent on the internet and the product will have to trickle down to the mainstream.

 

http://fortune.com/2017/04/08/cyber-security-insurance-cybersecurity-aig-2017-tools-news/