A review of Josephine Wolff, “Cyberinsurance Policy: Rethinking Risk in an Age of Ransomware, Computer Fraud, Data Breaches, and Cyberattacks” (MIT Press, 2022).
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Cyber risks—that is, loss associated with the use of electronic equipment, computers, information technology, and virtual reality—are among the biggest threats facing businesses and consumers. Cybersecurity risks are critical because consumer, financial, and health information are stored predominantly in electronic form. Hackers, malware, viruses, wiretapping, robocalls, and solicitation lead to identity theft and compromise personal, financial, and health information. These breaches impact almost every major industry, including financial services, health care, government, entertainment, retail, law, insurance, social networking, and credit card processing. And of course, hackers have even attempted to influence elections and geopolitical conflicts. Governments have struggled with how to address these challenges and often rely on fragmented and somewhat weak laws and regulations.
Recognizing cybersecurity as creating new risks and potential liability, insurance companies have tried to fill the void. Cyber…
