Re:Big Companies Thought Insurance Covered a Cyberattack
by ozim on Monday April 15, 2019 @02:28PM
(#19667590)
Where I live you pay premium, let's say $50 a month and then you get let's say $10000 of your damages covered. So that is what you get from insurance company $10000 and the rest is yours to pay. They just look at the probability like "hey this guy is storing fuel, fire insurance for someone who stores fuel is $100 a month and we can pay only up to $20k".
So it is easy to calculate for insurance companies, they don't go over the factory inventorying what you have in factory.
It is your responsibility. (they only go after to see what was damaged, because that i what they care about)
Of course you can pay some insurance expert to assess your assets and tell you to buy more expensive or less expensive insurance but there are no magic super specific algorithms for "if 10 people die we pay $50k if 20 people die we pay $100k". All insurances pay up to some amount based on what is your monthly/yearly payment.
So it is easy to calculate for insurance companies, they don't go over the factory inventorying what you have in factory.
Of course you can pay some insurance expert to assess your assets and tell you to buy more expensive or less expensive insurance but there are no magic super specific algorithms for "if 10 people die we pay $50k if 20 people die we pay $100k". All insurances pay up to some amount based on what is your monthly/yearly payment.