Related papers: Incident-Specific Cyber Insurance
Cybercrimes such as online scams and fraud have become prevalent. Cybercriminals often abuse various global or regional events as themes of their fraudulent activities to breach user trust and attain a higher attack success rate. These…
We study Pareto optimality in a decentralized peer-to-peer risk-sharing market where agents' preferences are represented by robust distortion risk measures that are not necessarily convex. We obtain a characterization of Pareto-optimal…
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…
We study the impact of data sharing policies on cyber insurance markets. These policies have been proposed to address the scarcity of data about cyber threats, which is essential to manage cyber risks. We propose a Cournot duopoly…
Internet of Things (IoT) is highly vulnerable to emerging Advanced Persistent Threats (APTs) that are often operated by well-resourced adversaries. Achieving perfect security for IoT networks is often cost-prohibitive if not impossible.…
Cyber risk has become a critical financial threat in today's interconnected digital economy. This paper introduces a cyber-risk management framework for networked digital systems that combines the strategic behavior of players with…
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…
Extreme events, exacerbated by climate change, pose significant risks to the energy system and its consumers. However there are natural limits to the degree of protection that can be delivered from a centralised market architecture.…
As cyber attacks have become more frequent, cyber insurance premiums have increased, resulting in the need for better modeling of cyber risk. Toward this direction, Jevti\'{c} and Lanchier (2020) proposed a dynamic structural model of…
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…
Providing personalized recommendations for insurance products is particularly challenging due to the intrinsic and distinctive features of the insurance domain. First, unlike more traditional domains like retail, movie etc., a large amount…
Nowadays, auto insurance companies set personalized insurance rate based on data gathered directly from their customers' cars. In this paper, we show such a personalized insurance mechanism -- wildly adopted by many auto insurance companies…
Payments in parametric insurance solutions are linked to an index and thus decoupled from policyholders' true losses. While this principle has appealing operational benefits compared to traditional indemnity coverage, i.e. is very efficient…
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…
Cyber assurance, which is the ability to operate under the onslaught of cyber attacks and other unexpected events, is essential for organizations facing inundating security threats on a daily basis. Organizations usually employ multiple…
Cyber-physical systems (CPSs) are part of most critical infrastructures such as industrial automation and transportation systems. Thus, security incidents targeting CPSs can have disruptive consequences to assets and people. As prior…
A major cyber security incident can represent a cyber crisis for an organisation, in particular because of the associated risk of substantial reputational damage. As the likelihood of falling victim to a cyberattack has increased over time,…
Every time the customer (individual or company) has to release personal information to its service provider (e.g., an online store or a cloud computing provider), it faces a trade-off between the benefits gained (enhanced or cheaper…
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…
Internet of Things (IoT) devices are rapidly becoming universal. The success of IoT cannot be ignored in the scenario today, along with its attacks and threats on IoT devices and facilities are also increasing day by day. Cyber attacks…