Related papers: Cyber Risk Frequency, Severity and Insurance Viabi…
Insurance industry is one of the most vulnerable sectors to climate change. Assessment of future number of claims and incurred losses is critical for disaster preparedness and risk management. In this project, we study the effect of…
Studying models of cyber epidemics over arbitrary complex networks can deepen our understanding of cyber security from a whole-system perspective. In this paper, we initiate the investigation of cyber epidemic models that accommodate the…
Internet of Things (IoT) is highly vulnerable to emerging Advanced Persistent Threats (APTs) that are often operated by well-resourced adversaries. Achieving perfect security for IoT networks is often cost-prohibitive if not impossible.…
We study a reinsurer who faces multiple sources of model uncertainty. The reinsurer offers contracts to $n$ insurers whose claims follow compound Poisson processes representing both idiosyncratic and systemic sources of loss. As the…
The openness of modern IT systems and their permanent change make it challenging to keep these systems secure. A combination of regression and security testing called security regression testing, which ensures that changes made to a system…
Cyberattacks on enterprise networks exploit complex dependencies among infrastructure, services, and applications, which challenge traditional analysis methods that focus on attack paths or network topology in isolation. In this study, we…
Risk aversion and insurance are two prominent and interconnected concepts in economics and finance. To explore their fundamental connection, we introduce risk-insurance parity, which associates various classes of insurance contracts with…
In recent years, quantum computation has been rapidly advancing, driving a technological revolution with significant potential across various sectors, particularly in finance. Despite this, the insurance industry, an essential tool for…
Digitization increases business opportunities and the risk of companies being victims of devastating cyberattacks. Therefore, managing risk exposure and cybersecurity strategies is essential for digitized companies that want to survive in…
Parametric statistical methods play a central role in analyzing risk through its underlying frequency and severity components. Given the wide availability of numerical algorithms and high-speed computers, researchers and practitioners often…
There continue to be numerous breaches publicised pertaining to cyber security despite security practices being applied within industry for many years. This article is intended to be the first in a number of articles as research into cyber…
Resilience is a feature that is gaining more and more attention in computer science and computer engineering. However, the definition of resilience for the cyber landscape, especially embedded systems, is not yet clear. This paper discusses…
Crime can have a volatile impact on investments. Despite the potential importance of crime rates in investments, there are no indices dedicated to evaluating the financial impact of crime in the United States. As such, this paper presents…
This paper presents a comparative survey of cyberthreat and attack trends starting from 2010 till date Cyber security breaches are constantly on the rise with huge uncertainty and risks The trend is causing rife globally because of its…
This paper addresses significant obstacles that arise from the widespread use of machine learning models in the insurance industry, with a specific focus on promoting fairness. The initial challenge lies in effectively leveraging unlabeled…
Municipalities are vulnerable to cyberattacks with devastating consequences, but they lack key information to evaluate their own risk and compare their security posture to peers. Using data from 83 municipalities collected via a…
Competing risk analysis considers event times due to multiple causes, or of more than one event types. Commonly used regression models for such data include 1) cause-specific hazards model, which focuses on modeling one type of event while…
Concerns for the resilience of Cyber-Physical Systems (CPS)s in critical infrastructure are growing. CPS integrate sensing, computation, control, and networking into physical objects and mission-critical services, connecting traditional…
Cyber Physical Systems solve complex problems through their tight integration between the physical and computational components. Therefore, the reliability of a complex system is the most critical requirement for the cyber physical system…
Despite the promising potential of network risk management services (e.g., cyber-insurance) to improve information security, their deployment is relatively scarce, primarily due to such service companies being unable to guarantee…