Cyber Risks: Liability and Insurance
The extraordinary risks in a hyperconnectivity world
The aim of this article is to provide a current and broad analysis of cyber risks, through its civil liability and insurance. In this order, the article firstly explains briefly the concept and scope of cyber risks. Secondly, it addresses the concept and scope of cybersecurity as consequence of the existence of cyber risks, taking into account as an essential element the IT development. Thirdly, the relationship between cyber risks and cybersecurity requires a digital environment called cyberspace. Cyberspace (with physical and un-physical implications) is affected not only by the IT development but also by the connectivity and hyper connectivity; so the paper analyse how those circumstances defined the developed of extraordinary and catastrophic IT threats. Fourthly, the article analyses the insurance coverage and the compensation systems of these cyber risk categories.