Related papers: Pricing cyber-insurance for systems via maturity m…
This project works with the risk model developed by Li et al. (2015) and quests modelling, estimating and pricing insurance for risks brought in by innovative technologies, or other emerging or latent risks. The model considers two…
We introduce a game-theoretic model to investigate the strategic interaction between a cyber insurance policyholder whose premium depends on her self-reported security level and an insurer with the power to audit the security level upon…
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…
Efficient risk transfer is an important condition for ensuring the sustainability of a market according to the established economics literature. In an inefficient market, significant financial imbalances may develop and potentially…
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…
In this paper, a novel cyber-insurance model design is proposed based on system risk evaluation with smart technology applications. The cyber insurance policy for power systems is tailored via cyber risk modeling, reliability impact…
In times of Industry 4.0 and cyber-physical systems (CPS) providing security is one of the biggest challenges. A cyber attack launched at a CPS poses a huge threat, since a security incident may affect both the cyber and the physical world.…
Motivated by the developments in cyber risk treatment in the finance industry, we propose a general framework of cyber bond, whose main purpose is to insure (compensate) losses of a cyber attack. Based on a database of publicly available…
Solving cybersecurity issues requires a holistic understanding of components, factors, structures and their interactions in cyberspace, but conventional modeling approaches view the field of cybersecurity by their boundaries so that we are…
In recent years, researchers have proposed \emph{cyber-insurance} as a suitable risk-management technique for enhancing security in Internet-like distributed systems. However, amongst other factors, information asymmetry between the insurer…
In the current market practice, many cyber insurance products offer a coverage bundle for losses arising from various types of incidents, such as data breaches and ransomware attacks, and the coverage for each incident type comes with a…
In a world of ever-increasing systems interdependence, effective cybersecurity policy design seems to be one of the most critically understudied elements of our national security strategy. Enterprise cyber technologies are often implemented…
Internet users such as individuals and organizations are subject to different types of epidemic risks such as worms, viruses, spams, and botnets. To reduce the probability of risk, an Internet user generally invests in traditional security…
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…
Internet users such as individuals and organizations are subject to different types of epidemic risks such as worms, viruses, spams, and botnets. To reduce the probability of risk, an Internet user generally invests in traditional security…
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…
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…
Risk assessment is a major challenge for supply chain managers, as it potentially affects business factors such as service costs, supplier competition and customer expectations. The increasing interconnectivity between organisations has put…
The non-life insurance sector operates within a highly competitive and tightly regulated framework, confronting a pivotal juncture in the formulation of pricing strategies. Insurers are compelled to harness a range of statistical…
Nowadays, both the amount of cyberattacks and their sophistication have considerably increased, and their prevention is of concern of most of organizations. Cooperation by means of information sharing is a promising strategy to address this…