Electronic insurance vs. Cyber Risks: Legal issues and suggested solutions - A study on Qatari and Comparative Law
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Mar 15, 2022
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Abstract
Today, commercial companies face great challenges in maintaining privacy policy, data protection and information security. In recognition of these threats, insurance companies have intervened and introduced the cyber insurance called also electronic insurance. The cyber insurance is a response to the companies' needs (demands) to defend their interests and reduce data breach and privacy violation damages resulting from electronic attacks. This research aims to study the legal problems related to electronic insurance for cyber risks with an increased cyber-attacks and demands for electronic insurance under the exceptional circumstances of the (Covid-19) pandemic. The results indicate the need to regulate the legal framework for an electronic insurance contract in the national legislation.
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Keywords
Electronic insuranceCyber risksCyber-attacksPandemic (Covid-19)Privacy violationCyber responsibility
References
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*********************************************************************************************
ʻaly, jāƅr mḥjwƅ. Alnẓryah alʻiāmah lililtzām, aljzā alawl mṣādr aliltzām fi alqānwn alqaṭary (in Arabic), jāmʿiat qaṭar, sanat 2006.
"Hāl anta jāhz lmwājhat a1mkhātr a1sybrānīyah?" (in Arabic), 2018. Retrieved on 14/3/2021, from https://www.ifegypt.org/NewsDetails.aspx?Page_ID=1244&PageDetailID=1324.
Nashrat alitḥ ādal-miṣrī liltʼamyn (in Arabic), ʿadad usbwʿiy rqm 67, snat 2019.
*********************************************************************************************
علي، جابر محجوب. النظرية العامة للالتزام، الجزء الأول مصادر الالتزام في القانون القطري، جامعة قطر، 2016.
نشرة الاتحاد المصري للتأمين، ع 67، 2019.
«هل أنت جاهز لمواجهة المخاطر السيبرانية؟»، 2018، على الرابط التالي:
https://www.ifegypt.org/NewsDetails.aspx?Page_ID=1244&PageDetailID=1324 (accessed 14/3/2021).
Biener, Christian, Martin Eling & Jan Hendrik Wirfs. Insurability of Cyber Risk: An Empirical Analysis, Article in Geneva Papers on Risk and Insurance - Issues and Practice · June 2014 DOI: 10.1057/gpp.2014.19. Retrieved on 14/3/2021, from https://www.researchgate.net/publication/265727415_Insurability_of_Cyber_Risk_An_Empirical_Analysis.
Corbett, Molly. Ransomware, COVID-19 and Cyber Insurance - The Big Disconnect, December 09, 2020, Region: North America. Retrieved on 14/3/2021, from https://www.genre.com/knowledge/blog/ransomware-covid-19-and-cyber-insurance-the-big-disconnect-en.html
Chawla, Ajay & Nappo, Stephane. Cybersecurity Insurance Coverage: Coronavirus Age, 2018.
COVID-19 Crisis May Warrant Changes to Your Cyber Insurance Coverage, July 2020, article. Retrieved on 14/3/2021 from: https://www.jonesday.com/en/insights/2020/07/covid19-crisis-may-warrant-changes-to-your-cyber-insurance-coverage.
Cyber Insurance: Risks and Trends, Categories, Cybercrime, Publications April 2020. Retrieved on 14/3/2021, from: https://bsabh.com/category/publications-2.
Cyber Insurance, Retrieved on 14/3/2021, from https://www2.deloitte.com/us/en/insights/focus/human-capital-trends.htm.
Cyber Risk for Insurers – Challenges and Opportunities, Luxembourg: Publications Office of the European Union, 2019. © EIOPA, 2019 Reproduction is authorised provided the source is acknowledged.
Eling, Martin. Werner Schnell, edited by Fabian Sommerrock, Ten Key Questions on Cyber Risk and Cyber Risk Insurance, The Geneva Association, November 2016, pp (32-37). Published by The Geneva Association — ‘International Association for the Study of Insurance Economics’, Zurich.
Hadwin, Steven. Norton Rose Fulbright LLP and Jamie Monck-Mason, Willis Towers Watson, Cyber Insurance: An Overview, Practical Law, 2020, Uk.
Jacques de Werra / Yaniv Benhamou, Cyberassurance: instrument utile pour la cybersécurité des entreprises ?, in : Jusletter 24 août 2020 ISSN 1424-7410, jusletter. Analyse juridique et recommandations des mesures étatiques concernant les cyberassurances visant à protéger les entreprises (PME), Catégories d’articles : Articles scientifiques Domaines juridiques : Informatique et droit; Droit des assurances privies.
Keevy, Justin. "COVID-19: Implications for Cyber Coverage," Retrieved on 14/3/2021, from https://www.marsh.com/za/insights/research-briefings/covid-19-implications-cyber-media-tech-errors-omissions.html.
LinkedIn Strikes $1.25M Settlement in Data Breach Action, Retrieved on 14/3/2021, from https://www.law360.com/articles/568135/linkedin-strikes-1-25m-settlement-in-data-breach-actio,
Munich Re worldwide, Retrieved on 14/3/2021, from https://www.munichre.com/en.html.
Nieuwesteeg, Bernold, Louis Visscher & Bob de Waard. The Law & Economics Of Cyber Insurance Contracts: A Case Study, ediss.sub.hamburg, 2018. Retrieved on 14/3/2021, from https://ediss.sub.uni-hamburg.de/handle/ediss/8189.
Nieuwesteeg, Bernold, Louis Visscher & Bob de Waard. The Law and Economics of Cyber Insurance Contracts: A Case Study, European Review of Private Law, Volume 26, Issue 3 (2018).
Palsson, Kjartan, Steinn Gudmundsson & Sachin Shetty, "Analysis of the impact of cyber events for cyber insurance," Published online: 4/6/2020 © The Geneva Association 2020.
Regulation (Eu) 2016/679 of The European Parliament And Of The Council Of 27 April 2016 On The Protection Of Natural Persons With Regard To The Processing Of Personal Data And On The Free Movement Of Such Data, And Repealing Directive 95/46/Ec.
Studer, Evelyne & Jacques De Werra, "Regulating Cybersecurity What Civil Liability In Case Of Cyber-Attacks?" 19/8/2017.
Talesh, Shauhin A. Symposium: Insurance Companies As Corporate Regulators: The Good, The Bad, And the Ugly, 66 Depaul L. Rev. 463, winter, 2017.
The Council of Economic Advisers February 2018, Retrieved on 14/3/2021, from https://www.whitehouse.gov/wp-content/uploads/2018/03/The-Cost-of-Malicious-Cyber-Activity-to-the-U.S.-Economy.pdf.
The Federal Reserve Bank Of Chicago, Essays On Issues, 2019 Number 426. Retrieved on 14/3/2021, from https://doi.org/10.21033/cfl-2019-426
Tom, Baker. "Back to the Future of Cyber Insurance" (2019). Faculty Scholarship at Penn Law. 2184. Retrieved on 14/3/2021, from https://scholarship.law.upenn.edu/faculty_scholarship/2184.
What Does Cyber Mean? Retrieved on 18/5/2021, from https://www.cyberdefinitions.com/definition_of_cyber.html.
*********************************************************************************************
ʻaly, jāƅr mḥjwƅ. Alnẓryah alʻiāmah lililtzām, aljzā alawl mṣādr aliltzām fi alqānwn alqaṭary (in Arabic), jāmʿiat qaṭar, sanat 2006.
"Hāl anta jāhz lmwājhat a1mkhātr a1sybrānīyah?" (in Arabic), 2018. Retrieved on 14/3/2021, from https://www.ifegypt.org/NewsDetails.aspx?Page_ID=1244&PageDetailID=1324.
Nashrat alitḥ ādal-miṣrī liltʼamyn (in Arabic), ʿadad usbwʿiy rqm 67, snat 2019.
*********************************************************************************************
علي، جابر محجوب. النظرية العامة للالتزام، الجزء الأول مصادر الالتزام في القانون القطري، جامعة قطر، 2016.
نشرة الاتحاد المصري للتأمين، ع 67، 2019.
«هل أنت جاهز لمواجهة المخاطر السيبرانية؟»، 2018، على الرابط التالي:
https://www.ifegypt.org/NewsDetails.aspx?Page_ID=1244&PageDetailID=1324 (accessed 14/3/2021).
How to Cite
Ismaeel, M. S. (2022). Electronic insurance vs. Cyber Risks: Legal issues and suggested solutions - A study on Qatari and Comparative Law. International Review of Law, 10(3). https://doi.org/10.29117/irl.2021.0195
Section
Articles in Arabic