Martin Eling - Colloquium Speaker

Professor and Chair for Insurance Management, and Director, Institute of Insurance Economics, University of St. Gallen
Thursday, March 10, 2022 - 8:45am
Colloquium Title: 
Is Cyber Risk Insurable?


We use data on cyber losses and model the potential market equilibrium for cyber insurance to document a market failure when portfolios of cyber risk are constructed. This can be explained by the distinct properties of cyber risk, namely heavy tails, strong (tail) dependencies, high costs due to asymmetric information, and modelling risk. Our results help to explain why many insurance companies are reluctant to offer cyber insurance on a broad scale. We also discuss ways to overcome the market failure. Our analyses expand results from catastrophic insurance and have implications for corporate risk management and public policy.


Topic: Colloquia -- Department of Statistics and Actuarial Science, The University of Iowa
Time: Mar 10, 2022 08:45 AM Central Time (US and Canada)

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Meeting ID: 989 2869 3758