Insurance is designed to protect us from major calamities. Insurance companies have moratoriums on increasing limits on an existing policy or issuing new property policies, say, if an impending hurricane is a couple of weeks (or less) away. The insurance component provides a buffer against disaster. It is more about the feeling that there is little value for money spent until and when disaster strikes. Then, if insurance does exist, it is a comfort during a terribly stressful time for a family. Cybersecurity risks are at an all-time high. The depth of risk prevention required is at an unheard of high.
Optimism bias and our reluctance to buy insurance
