Related papers: RCVaR: an Economic Approach to Estimate Cyberattac…
The increasing value of data held in enterprises makes it an attractive target to attackers. The increasing likelihood and impact of a cyber attack have highlighted the importance of effective cyber risk estimation. We propose two methods…
Quantifying cyber risks is essential for organizations to grasp their vulnerability to threats and make informed decisions. However, current approaches still need to work on blending economic viewpoints to provide insightful analysis. To…
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…
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…
Nowadays, cyber threats are considered among the most dangerous risks by top management of enterprises. One way to deal with these risks is to insure them, but cyber insurance is still quite expensive. The insurance fee can be reduced if…
When undertaking cyber security risk assessments, we must assign numeric values to metrics to compute the final expected loss that represents the risk that an organization is exposed to due to cyber threats. Even if risk assessment is…
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…
In this paper we present a study on using novel data types to perform cyber risk quantification by estimating the likelihood of a data breach. We demonstrate that it is feasible to build a highly accurate cyber risk assessment model using…
This paper introduces a two-pillar cyber risk management framework to address the pervasive challenges in managing cyber risk. The first pillar, cyber risk assessment, combines insurance frequency-severity models with cybersecurity cascade…
Cyber threats affect all kinds of organisations. Risk analysis is an essential methodology for cybersecurity as it allows organisations to deal with the cyber threats potentially affecting them, prioritise the defence of their assets and…
Along with the increasing frequency and severity of cyber incidents, understanding their economic implications is paramount. In this context, listed firms' reactions to cyber incidents are compelling to study since they (i) are a good proxy…
Proactive cyber-risk assessment is gaining momentum due to the wide range of sectors that can benefit from the prevention of cyber-incidents by preserving integrity, confidentiality, and the availability of data. The rising attention to…
Cyber insurance, which protects insured organizations against financial losses from cyberattacks and data breaches, can be difficult and expensive to obtain for many organizations. These difficulties stem from insurers difficulty in…
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…
As cyber-attacks continue to increase in frequency and sophistication, organisations must be better prepared to face the reality of an incident. Any organisational plan that intends to be successful at managing security risks must clearly…
Cyber security threats to the payment and banking system have become a worldwide menace. The phenomenon has forced financial institutions to take risks as part of their business model. Hence, deliberate investment in sophisticated…
It is very challenging to predict the cost of a cyber incident owing to the complex nature of cyber risk. However, it is inevitable for insurance companies who offer cyber insurance policies. The time to identifying an incident and the time…
Modern industrial systems face a growing threat from sophisticated cyberattacks that can cause significant operational disruptions. This work presents a novel methodology for identification of the most critical cyberattacks that may disrupt…
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 measures are important key figures to measure the adequacy of the reserves of a company. The most common risk measures in practice are Value-at-Risk (VaR) and Conditional Value-at-Risk (CVaR). Recently, quantum-based algorithms are…