Critical Infrastructures, e-Risks and Insurance

Every day the Digital Age presents legal and insurance risks (“e-risks”).  Information and communication technologies (ICTs) have, themselves, become new, modern critical infrastructures and entwined themselves with existing critical infrastructures.

Cyber insurance is one of the fastest growing insurance products on the Australian insurance market. The benefits of cyber insurance are real - Lloyd’s City Risk Index 2015-2025 stated that a 1% rise in insurance penetration translates into a 13% reduction in uninsured losses – in effect, a 22% reduction in taxpayers’ contribution following a disaster. However, Australia’s capital cities are most at risk. For an analysis of the cyber-risk landscape and its impact upon the insurance industry, insurance law and insurance litigation, see further:

Wilson, “e-Risks and Insurance in the Information Age” (2011) New Zealand Universities Law Review 550.