Related papers: Cyber Risk Frequency, Severity and Insurance Viabi…
In a well-calibrated risk prediction model, the average predicted probability is close to the true event rate for any given subgroup. Such models are reliable across heterogeneous populations and satisfy strong notions of algorithmic…
Cloud Computing services are increasingly being made available by the UK Government through the Government digital marketplace to reduce costs and improve IT efficiency; however, little is known about factors influencing the decision-making…
Recent years have witnessed a rise in the frequency and intensity of cyberattacks targeted at critical infrastructure systems. This study designs a versatile, data-driven cyberattack detection platform for infrastructure systems…
Risk assessment is an inevitable step in implementation of a cyber-defense strategy. An important part of this assessment is to reason about the impact of possible attacks. In this paper, we propose a framework for estimating the impact of…
This paper is devoted to measuring the security of cyber networks under advanced persistent threats (APTs). First, an APT-based cyber attack-defense process is modeled as an individual-level dynamical system. Second, the dynamic model is…
The Internet of Things (IoT) presents unique cybersecurity challenges due to its interconnected nature and diverse application domains. This paper explores the application of Cyber Value-at-Risk (Cy-VaR) models to assess and mitigate…
These days, cyber-criminals target humans rather than machines since they try to accomplish their malicious intentions by exploiting the weaknesses of end users. Thus, human vulnerabilities pose a serious threat to the security and…
In this paper, we address the critical need for interpretable and uncertainty-aware machine learning models in the context of online learning for high-risk industries, particularly cyber-security. While deep learning and other complex…
The current world challenges include issues such as infectious disease pandemics, environmental health risks, food safety, and crime prevention. Through this article, a special emphasis is given to one of the main challenges in the…
Weather parametric insurance relies on weather indices rather than actual loss assessments, enhancing claims efficiency, reducing moral hazard, and improving fairness. In the context of increasing climate change risks, despite growing…
Since the beginning of their history, insurers have been known to use data to classify and price risks. As such, they were confronted early on with the problem of fairness and discrimination associated with data. This issue is becoming…
In the literature, insurance and reinsurance pricing is typically determined by a premium principle, characterized by a risk measure that reflects the policy seller's risk attitude. Building on the work of Meyers (1980) and Chen et al.…
In the dynamic realm of cybersecurity, awareness training is crucial for strengthening defenses against cyber threats. This survey examines a spectrum of cybersecurity awareness training methods, analyzing traditional, technology-based, and…
The collective risk model (CRM) for frequency and severity is an important tool for retail insurance ratemaking, macro-level catastrophic risk forecasting, as well as operational risk in banking regulation. This model, which is initially…
Index insurance is often proposed to reduce protection gaps, especially for emerging risks. Unlike traditional insurance, it bases compensation on a measurable index, enabling faster payouts and lower claim management costs. This approach…
As insurers increasingly behave like financial intermediaries and actively participate in capital markets, understanding the dependence structure between insurance and financial risks becomes crucial for insurers' operations. This paper…
Power distribution systems (PDS) serve as the backbone of our modern society, ensuring electricity reaches homes, businesses, and critical infrastructure. However, the increasing digitization and interconnectivity of these systems have…
The use of mobile payment services is an essential contributor to financial inclusion in emerging markets. Unfortunately, the service has become a platform for fraud. Mobile payment users need to be digitally resilient to continue using the…
It is not clear how to target patients who are most likely to benefit from digital care management programs ex-ante, a shortcoming of current risk score based approaches. This study focuses on defining impactability by identifying those…
Mainstream software applications and tools are the configurable platforms with an enormous number of parameters along with their values. Certain settings and possible interactions between these parameters may harden (or soften) the security…