Related papers: Pricing cyber insurance for a large-scale network
When a company migrates to cloud storage, the way back is neither easy nor cheap. The company is then locked up in the storage contract and exposed to upward market prices, which reduce the company's profit and may even bring it below zero.…
We present a general approach to the pricing of products in finance and insurance in the multi-period setting. It is a combination of the utility indifference pricing and optimal intertemporal risk allocation. We give a characterization of…
This article describes techniques employed in the production of a synthetic dataset of driver telematics emulated from a similar real insurance dataset. The synthetic dataset generated has 100,000 policies that included observations about…
In many cases, tainted information in a computer network can spread in a way similar to an epidemics in the human world. On the other had, information processing paths are often redundant, so a single infection occurrence can be easily…
Fraudulent claim detection is one of the greatest challenges the insurance industry faces. Alibaba's return-freight insurance, providing return-shipping postage compensations over product return on the e-commerce platform, receives…
The modernization of power grid infrastructures necessitates the incorporation of decision support systems to effectively mitigate cybersecurity threats. This paper presents a comprehensive framework based on integrating Attack-Defense…
Price feeds of securities is a critical component for many financial services, allowing for collateral liquidation, margin trading, derivative pricing and more. With the advent of blockchain technology, value in reporting accurate prices…
The ability to accurately predict cyber-attacks would enable organizations to mitigate their growing threat and avert the financial losses and disruptions they cause. But how predictable are cyber-attacks? Researchers have attempted to…
In Nature, the primary goal of any network is to survive. This is less obvious for engineering networks (electric power, gas, water, transportation systems etc.) that are expected to operate under normal conditions most of time. As a…
Time-limited states characterise many dynamical processes on networks: disease infected individuals recover after some time, people forget news spreading on social networks, or passengers may not wait forever for a connection. These…
As climate change poses new and more unpredictable challenges to society, insurance is an essential avenue to protect against loss caused by extreme events. Traditional insurance risk models employ statistical analyses that are inaccurate…
With the growing scale of Cyber-Physical Systems (CPSs), it is challenging to maintain their stability under all operating conditions. How to reduce the downtime and locate the failures becomes a core issue in system design. In this paper,…
This paper studies risk balancing features in an insurance market by evaluating ruin probabilities for single and multiple components of a multivariate compound Poisson risk process. The dependence of the components of the process is…
In this paper incomplete-information models are developed for the pricing of securities in a stochastic interest rate setting. In particular we consider credit-risky assets that may include random recovery upon default. The market…
We introduce a novel framework for computing optimal randomized security policies in networked domains which extends previous approaches in several ways. First, we extend previous linear programming techniques for Stackelberg security games…
Extant literature on fair pricing methods for actuarial contexts has primarily focused on the regression setting. While such approaches are well-suited to short-term products, it is unclear how they generalize to long-term products, whose…
We introduce a model for a market based economic system of cyber-risk valuation to correct fundamental problems of incentives within the information technology and information processing industries. We assess the makeup of the current day…
There is a growing need for cybersecurity professionals with practical knowledge and experience to meet societal needs and comply with new standards and regulations. At the same time, the advances in software technology and artificial…
Autonomous systems are often applied in uncertain environments, which require prospective action planning and retrospective data evaluation for future planning to ensure safe operation. Formal approaches may support these systems with…
This paper addressed the issue of estimating the damage caused by a computer virus. First, an individual-level delayed SIR model capturing the spreading process of a digital virus is derived. Second, the damage inflicted by the virus is…