CURRENT ISSUES IN INSURANCE:CYBER INSURANCE AND ON-DEMAND INSURANCE

This article addresses current issues related to cyber risks and cybersecurity in the context of the rapid development of digital technologies and the global digitalization of society. In today’s reality, cyber threats are among the most serious threats not only to certain citizens and businesses but also to states as a whole. The article examines various forms of cyber threats, including hacker attacks, theft of personal data and financial assets, and virus programs such as ransomware. It highlights the increasing complexity and diversity of modern cyberattacks, which leads to significant financial losses and reputational damage for both companies and individuals. The author analyzes statistics on cyberattacks, including data from F6’s annual analytical report, which shows a sharp rise in database leaks involving companies in Russia and Belarus. The article emphasizes the importance of personal data protection and the need to develop effective legislative mechanisms to combat cybercrime. In particular, it reviews the Federal Law of the Russian Federation on the Creation of a State Information System to Counter Offenses Committed Using Information and Communication Technologies and on Amendments to Certain Legislative Instruments of the Russian Federation, which increases the liability of information system operators for legal violations. The article focuses on the concept of cyber risks and their impact on the financial and reputational standing of organizations. It outlines various approaches to cyber insurance, discussing both its advantages and disadvantages, and highlights new market trends such as on-demand insurance. Emphasis is placed on the need to adapt insurance products to evolving conditions and risks, as well as the importance of a personalized approach to each client. The article also points out that cyber insurance and on-demand insurance are becoming essential tools for protection against digital threats. To be effective, these insurance models require proper risk assessment and regular updates to insurance terms and conditions. This will enable organizations and individuals to minimize the consequences of cyberattacks and ensure reliable protection in the rapidly changing digital environment.