Start Date
11-8-2016
Description
The vulnerability of organizations to security breaches and the severity of these breaches have become key issues in organizations. The cost incurred from the breaches can be damaging and difficult to recover from. Cyberinsurance has been portrayed as a risk management strategy that aims to protect organizations from the crippling cost of security breaches. Thus, this study is interested in understanding the factors affecting the intent to purchase cyberinsurance from the perspective of top managers. Not only do we want to understand the factors affecting top manager’s intent to purchase cyberinsurance as a protective approach, of interest also, is the examination of its effect on the organization’s security posture. We seek to empirical test this observed but largely untested phenomenon using the protection motivation theory which has successfully been used to study the effect of threat and coping appraisals on protective behaviors.
Recommended Citation
Ogbanufe, Obi; Kim, Dan; and Takabi, Hassan, "Top Manager’s Perspectives on Cyberinsurance Risk Management for Reducing Cybersecurity Risks" (2016). AMCIS 2016 Proceedings. 10.
https://aisel.aisnet.org/amcis2016/ISSec/Presentations/10
Top Manager’s Perspectives on Cyberinsurance Risk Management for Reducing Cybersecurity Risks
The vulnerability of organizations to security breaches and the severity of these breaches have become key issues in organizations. The cost incurred from the breaches can be damaging and difficult to recover from. Cyberinsurance has been portrayed as a risk management strategy that aims to protect organizations from the crippling cost of security breaches. Thus, this study is interested in understanding the factors affecting the intent to purchase cyberinsurance from the perspective of top managers. Not only do we want to understand the factors affecting top manager’s intent to purchase cyberinsurance as a protective approach, of interest also, is the examination of its effect on the organization’s security posture. We seek to empirical test this observed but largely untested phenomenon using the protection motivation theory which has successfully been used to study the effect of threat and coping appraisals on protective behaviors.