Question

How does the cybercrime affect the underwriting of the risk?

Answer 1

Cybercrime increases the risk of underwriting and scope of getting fraud or insider sabotage. It causes the cost of underwriting to increase and underwriting of risk becomes expensive due to the presence of cybercrime. It makes the underwriters to seek more information before going for the underwriting so that they can insure the presence of the risk management framework and best practices that can minimize the scope of cybercrime. Hence, the number of successful cases for the underwriting of their risk, may decrease with the emergence of cybercrime.