Insurance as a tool to limit corporate financial losses resulted by it risk materialization

Economic Annals-ХХI: Volume 142, Issue 7-8(1), Pages: 84-87

Citation information:
Pukała, R. (2014). Insurance as a tool to limit corporate financial losses resulted by it risk materialization. Economic Annals-XXI, 7-8(1), 84-87. https://ea21journal.world/index.php/ea-v142-21/

Ryszard Pukała
PhD (Economics),
Director,
Institute of Economy and Management,
State Higher School of Technology and Economics
16 Czarnieckiego Str., Jaroslaw, 37-500, Poland
ryszard.pukala@interia.pl

Insurance as a tool to limit corporate financial losses resulted by it risk materialization

Abstract. The issues discussed in this article concern the usage of insurance as a tool for limiting corporate financial losses arising from IT risk materialization. The article presents possible threats for the security of IT systems used by enterprises. Quantitative and qualitative methods for estimating IT risk have been presented, as well as insurance products have been selected that can be applied by the enterprises to enhance protection against losses resulted by IT risk. The article also draws attention to benefits which arise from efficient tools for the management of IT systems’ security implementation and usage of insurance as a tool for limiting risk in the enterprises development under volatile market conditions.

Keywords: IT Risk; Cyber-Attack; Risk Transfer; Insurance; Financial Losses

JEL Classіfіcatіon: G22; G32

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Received 04.05.2014