Abstract The cyber-insurance (CI) market is at a nascent stage. This paper investigates how the contexts provided by formal and informal institutions affect the development of the CI industry. It highlights the nature, origin, and implications of CI-related institutions and provides insights into the mechanisms and forces that can lead to institutional changes. It offers an explanation as to how different institutional pillars related to CI progressively evolve and reinforce one another. Such a mechanism is likely to influence a range of demand and supply side factors and create a system that can accelerate the growth of the CI industry and market. The paper also investigates how contradictions generated by CI, the formation of dense networks and changing power dynamics can trigger regulative normative and cognitive changes. Since the current analysis of the causes and consequences of institutions and institutional change is mainly concerned with more established economic sectors, this paper is expected to provide insights into institutions surrounding to this new and rapidly evolving industry.

中文翻译：

---

网络保险行业和市场的演变：制度分析

摘要 网络保险 (CI) 市场正处于起步阶段。本文研究了正式和非正式机构提供的环境如何影响 CI 行业的发展。它突出了 CI 相关机构的性质、起源和影响，并提供了对可能导致机构变革的机制和力量的见解。它解释了与 CI 相关的不同机构支柱如何逐渐演变和相互加强。这种机制很可能会影响一系列需求和供应方面的因素，并创建一个可以加速 CI 行业和市场增长的系统。该论文还研究了 CI 产生的矛盾、密集网络的形成和不断变化的权力动态如何触发调节性规范和认知变化。