Supply of cyber insurance in banking sector operating in Portugal

Detalhes bibliográficos
Autor(a) principal: Martins, Ana Rita Batista
Data de Publicação: 2020
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10362/106927
Resumo: Dissertation presented as the partial requirement for obtaining a Master's degree in Statistics and Information Management, specialization in Risk Analysis and Management
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spelling Supply of cyber insurance in banking sector operating in PortugalCyber RiskCyber InsuranceOperational RiskBanking sectorInsurance sectorDissertation presented as the partial requirement for obtaining a Master's degree in Statistics and Information Management, specialization in Risk Analysis and ManagementThe development of technology and the way of doing business exchange sensitive information all over the world through IT resources. In consequence of such reality, cyber events are more likely to occur, being the banking sector one of the major targets. However, in parallel with these new perils from technological growth, awareness of cyber risk is also increasing among institutions, as well as the search for protection and measures to fight them. Cyber insurance is one of the possible protection options. The main goal of this work is to assess the supply of cyber insurance among the banking sector operating in Portugal. As empirical investigations of cyber insurance applied in the country are rarely reported in the literature, the results are novel. In order to get the main goal, the research is based on a literature review where will be presented the “state of the art” of cyber insurance market in the world and in the country. In addition, an empirical study will be made through the application of questionnaires to ascertain the specificities of cyber insurance suppliers or potential suppliers in the Portuguese market, their perception of market evolution and knowledge about cyber risk. There is also a specific questionnaire for the supervisor entity in order to know its point of view about the topic in discussion. The main conclusions of this study relate to the fact that there is still a long way to go in the Portuguese insurance sector for cyber risk. The sector in the country started to be developed by international companies and only after that the national ones started to have more awareness on the subject, as mentioned by the Autoridade de Supervisão de Seguros e Fundos de Pensões (ASF). However, awareness of the issue is not the only point that leads to the underdevelopment of this specific insurance. The difficulties in the product underwriting process, which on the part of those who sell as well as those who buy, the high and variable prices, the lack of historical data and the information asymmetries are examples of obstacles that still have to be overcome. Although the cyber risk insurance sector is taking its first steps, it is believed to have a large margin of expansion, as has already been the case in several other countries. The creation of information sharing platforms on cyber incidents and the design of insurance and reinsurance products for cyber incidents are considered by the participant insurers as the main measures to be taken to assist this market development. It therefore becomes an inevitable topic to be addressed by the insurance sector in Portugal.Gonçalves, Rui Alexandre HenriquesRUNMartins, Ana Rita Batista2020-11-11T13:51:25Z2020-09-292020-09-29T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/106927TID:202535983enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-05-22T17:48:35Zoai:run.unl.pt:10362/106927Portal AgregadorONGhttps://www.rcaap.pt/oai/openairemluisa.alvim@gmail.comopendoar:71602024-05-22T17:48:35Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Supply of cyber insurance in banking sector operating in Portugal
title Supply of cyber insurance in banking sector operating in Portugal
spellingShingle Supply of cyber insurance in banking sector operating in Portugal
Martins, Ana Rita Batista
Cyber Risk
Cyber Insurance
Operational Risk
Banking sector
Insurance sector
title_short Supply of cyber insurance in banking sector operating in Portugal
title_full Supply of cyber insurance in banking sector operating in Portugal
title_fullStr Supply of cyber insurance in banking sector operating in Portugal
title_full_unstemmed Supply of cyber insurance in banking sector operating in Portugal
title_sort Supply of cyber insurance in banking sector operating in Portugal
author Martins, Ana Rita Batista
author_facet Martins, Ana Rita Batista
author_role author
dc.contributor.none.fl_str_mv Gonçalves, Rui Alexandre Henriques
RUN
dc.contributor.author.fl_str_mv Martins, Ana Rita Batista
dc.subject.por.fl_str_mv Cyber Risk
Cyber Insurance
Operational Risk
Banking sector
Insurance sector
topic Cyber Risk
Cyber Insurance
Operational Risk
Banking sector
Insurance sector
description Dissertation presented as the partial requirement for obtaining a Master's degree in Statistics and Information Management, specialization in Risk Analysis and Management
publishDate 2020
dc.date.none.fl_str_mv 2020-11-11T13:51:25Z
2020-09-29
2020-09-29T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/106927
TID:202535983
url http://hdl.handle.net/10362/106927
identifier_str_mv TID:202535983
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
repository.mail.fl_str_mv mluisa.alvim@gmail.com
_version_ 1817545766381551616

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