Related papers: Cyber Risk Assessment for Capital Management
In this paper, we formulate cyber risk management and mitigation as a stochastic optimal control problem under a stochastic Susceptible-Infected-Susceptible (SIS) epidemic model. To capture the dynamics and interplay of management and…
In this study an exploration of insurance risk transfer is undertaken for the cyber insurance industry in the United States of America, based on the leading industry dataset of cyber events provided by Advisen. We seek to address two core…
Cybersecurity risk is commonly expressed through impact and likelihood, yet likelihood remains difficult to estimate because cyber incidents are underreported, heterogeneous datasets are weakly comparable, and attacker behaviour changes…
We review the current status and research challenges in the area of cyber security often called continuous monitoring and risk scoring (CMRS). We focus on two most salient aspects of CMRS. First, continuous collection of data through…
Given the rapid evolution of threats to cyber systems, new management approaches are needed that address risk across all interdependent domains (i.e., physical, information, cognitive, and social) of cyber systems. Further, the traditional…
Industrial Control Systems (ICSs) are widely used in critical infrastructures that face various cyberattacks causing physical damage. With the increasing integration of the ICSs and information technology (IT), ensuring the security of ICSs…
Several approaches have been used to assess the performance of cyberphysical systems and their exposure to various types of risks. Such assessments have become increasingly important as autonomous attackers ramp up the frequency, duration…
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…
We use a methodology based on a machine learning algorithm to quantify firms' cyber risks based on their disclosures and a dedicated cyber corpus. The model can identify paragraphs related to determined cyber-threat types and accordingly…
Cyber risk classifications are widely used in the modeling of cyber event distributions, yet their effectiveness in out of sample forecasting performance remains underexplored. In this paper, we analyse the most commonly used…
The cyber risk insurance market is at a nascent stage of its development, even as the magnitude of cyber losses is significant and the rate of cyber loss events is increasing. Existing cyber risk insurance products as well as academic…
With the recent growing number of cyberattacks and the constant lack of effective defense methods, cyber risks become ubiquitous in enterprise networks, manufacturing plants, and government computer systems. Cyber-insurance provides a…
The increasing frequency and sophistication of cybersecurity incidents pose significant challenges to organisations, highlighting the critical need for robust incident response capabilities. This paper explores a possible utilisation of IR…
Cyber insurance is a key component in risk management, intended to transfer risks and support business recovery in the event of a cyber incident. As cyber insurance is still a new concept in practice and research, there are many unanswered…
The interconnectivity of cyber and physical systems and Internet of things has created ubiquitous concerns of cyber threats for enterprise system managers. It is common that the asset owners and enterprise network operators need to work…
Nowadays, companies are highly exposed to cyber security threats. In many industrial domains, protective measures are being deployed and actively supported by standards. However the global process remains largely dependent on document…
Modeling and simulation are widely used in cybersecurity research to assess cyber threats, evaluate defense mechanisms, and analyze vulnerabilities. However, the diversity of application areas, the variety of cyberattacks scenarios, and the…
When investing in cyber security resources, information security managers have to follow effective decision-making strategies. We refer to this as the cyber security investment challenge. In this paper, we consider three possible…
Metrics and frameworks to quantifiably assess security measures have arisen from needs of three distinct research communities - statistical measures from the intrusion detection and prevention literature, evaluation of cyber exercises,…
Risk perceptions are essential in cyber insurance contracts. With the recent surge of information, human risk perceptions are exposed to the influences from both beneficial knowledge and fake news. In this paper, we study the role of the…