IMPLEMENTATION OF A NEW INSURANCE PRODUCT FOR CYBER THREAT PROTECTION IN UZBEKISTAN’S INSURANCE SYSTEM

Аннотация

Cyber insurance has emerged as a critical tool in mitigating the financial risks associated with cyber threats. As the frequency and complexity of cyberattacks continue to rise, businesses across various industries are increasingly turning to cyber insurance to protect themselves against financial losses, legal liabilities, and reputational damage. This article explores the key components of cyber insurance, including first-party and third-party coverage, policy exclusions, and the evolving market trends. It examines the growing demand for cyber insurance, the factors influencing policy selection, and the regulatory developments that shape the industry. Additionally, the article discusses the challenges and opportunities presented by emerging risks, such as artificial intelligence and deepfake technologies, which require insurers to continuously adapt their offerings. The role of cyber insurance in the broader context of cybersecurity risk management is emphasized, highlighting its complementary function in a comprehensive digital defense strategy. Key words: Cyber insurance, first-party coverage, third-party coverage, risk exposure, ransomware, data breaches, cybersecurity, regulatory compliance, market trends, insurance exclusions, digital risk management, emerging threats, artificial intelligence, deepfake technologies.