The "Dematerialized" Insurance

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This book takes an international approach to explore the challenges posed by online insurance sales to regulation and contracts, focusing on sales practices, consumer protection, cyber risks, privacy, and dispute resolution. As insurers, policyholders, intermediaries, and regulators navigate an increasingly digital landscape, the implications for this traditionally structured industry are significant. Cyber threats to consumer and business data present major risks for insurers, yet cyber insurance has emerged as the fastest-growing commercial product in various jurisdictions. Scholars and practitioners from Europe, the U.S., and Asia analyze these issues from the perspectives of insurers, policyholders, and intermediaries. While some existing regulations, such as those against deceptive marketing, can adapt to online platforms like social media, other areas reveal inadequacies in current practices, prompting the development of new regulations. The insurance sector is also grappling with the implications of data mining and predictive analytics, which challenge traditional privacy protections and risk classification laws. With a broad international scope, the book addresses the cross-territorial nature of the online insurance market, as insurers often operate globally within larger financial services. The comparative analysis of major insurance markets, including the U.S., Europe, and Japan, offers essential insights into the co