Alas, infosec failures often come in much bigger lumps than car accidents.

Car fatalities in Finland: approximately 250 per year. That gives an idea of the orders of magnitude difference that can occur with security breaches. There have been breaches where every person in a whole country has been affected.

Most importantly car accidents have a known variance and are statistically predictable.

There are insurers that will take on one-off unpredictable risks (reinsurance), but equating cybersecurity to car insurance makes little sense.

Insurance companies have relatively low caps on what they have to pay out per accident though. The figures here would be much higher.

It’s a matter of balancing costs and income.

Insurance companies can deal with skyscrapers or airline crash insurances, I don’t think privacy leaks should be harder to manage than actual death.

>It’s a matter of balancing costs and income.

I know, I just thought car accidents were a bad way to make the point.

Data breaches vs skyscrapers/airplanes are harder to distinguish, so yeah those are more comparable.

Edit: that is, data breaches under the proposed system of high per-user liability are comparable.