Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/289165 
Year of Publication: 
2020
Citation: 
[Journal:] The Geneva Papers on Risk and Insurance - Issues and Practice [ISSN:] 1468-0440 [Volume:] 45 [Issue:] 4 [Publisher:] Palgrave Macmillan UK [Place:] London [Year:] 2020 [Pages:] 657-689
Publisher: 
Palgrave Macmillan UK, London
Abstract: 
This paper examines the design of affirmative and silent coverage in view of the cyber risks in traditional insurance policies for select product lines on the German market. Given the novelty and complexity of the topic and the insufficient coverage in the literature, we use two different sources. We analysed the general insurance terms and conditions of different traditional insurance lines using Mayring’s qualitative content analysis. Also, we conducted interviews with experts from the German insurance industry to evaluate how insurers understand their silent cyber exposures, and what measures they take to deal with this new exposure. The study shows a considerable cyber liability risk potential for insurers in the considered insurance lines. This arises from the affirmative as well as silent cover inclusions and exclusions for cyber risks, which result from imprecise wordings of insurance clauses and insufficient descriptions of the contractually specified scope of the insurance coverage.
Subjects: 
Cyber insurance
Traditional insurance policies
Cyber risk
Silent cyber coverage
Affirmative cyber coverage
Silent cyber
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article
Document Version: 
Published Version

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