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Recent trends in targeted cyber-attacks has increased the interest of research in the field of cyber security. Such attacks have massive disruptive effects on rganizations, enterprises and governments. Cyber kill chain is a model to…
Cybersecurity planning is challenging for digitized companies that want adequate protection without overspending money. Currently, the lack of investments and perverse economic incentives are the root cause of cyberattacks, which results in…
Actuaries use predictive modeling techniques to assess the loss cost on a contract as a function of observable risk characteristics. State-of-the-art statistical and machine learning methods are not well equipped to handle hierarchically…
The paper examines quantitative assessment of wireless distribution system security, as well as an assessment of risks from attacks and security violations. Furthermore, it describes typical security breach and formal attack models and five…
Protecting against cyber-threats is vital for every organization and can be done by investing in cybersecurity controls and purchasing cyber insurance. However, these are interlinked since insurance premiums could be reduced by investing…
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…
Cyber-Physical Systems (CPS) integrate physical and embedded systems with information and communication technology systems, monitoring and controlling physical processes with minimal human intervention. The connection to information and…
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…
We extract firms' cyber risk with a machine learning algorithm measuring the proximity between their disclosures and a dedicated cyber corpus. Our approach outperforms dictionary methods, uses full disclosure and not devoted-only sections,…
There are two strategic and longstanding questions about cyber risk that organizations largely have been unable to answer: What is an organization's estimated risk exposure and how does its security compare with peers? Answering both…
Cyberattacks in the energy sector are commonplace. Load-altering cyberattacks launched via the manipulations of high-wattage appliances and assets are particularly alarming, as they are not continuously monitored by electric power…
System security assurance provides the confidence that security features, practices, procedures, and architecture of software systems mediate and enforce the security policy and are resilient against security failure and attacks. Alongside…
We provide a framework for detecting relevant insurance companies in a systemic risk perspective. Among the alternative methodologies for measuring systemic risk, we propose a complex network approach where insurers are linked to form a…
The growing demand for computer security and the cyberization trend are hallmarks of the 21st century. The rise in cyber-crime, digital currency, e-governance, and more, is well met by a corresponding recent jump in investment in new…
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…
In today's digitally interconnected world, cybersecurity threats have reached unprecedented levels, presenting a pressing concern for individuals, organizations, and governments. This study employs a qualitative research approach to…
Cyber risk refers to the risk of defacing reputation, monetary losses, or disruption of an organization or individuals, and this situation usually occurs by the unconscious use of cyber systems. The cyber risk is unhurriedly increasing day…
Today, Cloud Computing is rising strongly, presenting itself to the market by its main service models, known as IaaS, PaaS and SaaS, that offer advantages in operational investments by means of on-demand costs, where consumers pay by…
Traditional insurance pricing relies on risk-based principles that ensure actuarial fairness and solvency but do not explicitly account for policyholders' price sensitivity. We formulate insurance pricing as a decision-making problem and…
Cyber-attacks can occur at machine speeds that are far too fast for human-in-the-loop (or sometimes on-the-loop) decision making to be a viable option. Although human inputs are still important, a defensive Artificial Intelligence (AI)…