Related papers: Incident-Specific Cyber Insurance
Personal data breaches from organisations, enabling mass identity fraud, constitute an \emph{extreme risk}. This risk worsens daily as an ever-growing amount of personal data are stored by organisations and on-line, and the attack surface…
Supply chain security has become a growing concern in security risk analysis of the Internet of Things (IoT) systems. Their highly connected structures have significantly enlarged the attack surface, making it difficult to track the source…
This paper studies an optimal reinsurance problem for a utility-maximizing insurer, subject to the reinsurer's endogenous default and background risk. An endogenous default occurs when the insurer's contractual indemnity exceeds the…
Cybersecurity incident response teams mitigate the impact of adverse cyber-related events in organisations. Field studies of IR teams suggest that at present the process of IR is under-developed with a focus on the technological dimension…
We study optimal proportional reinsurance and investment strategies for an insurance company which experiences both ordinary and catastrophic claims and wishes to maximize the expected exponential utility of its terminal wealth. We propose…
In the area of information technology, cybersecurity is critical. Information security is one of todays highest priorities. Cyber attacks, which are on the rise and include Ransomware, are the first thing that springs to mind when we think…
Internet of Thing (IoT) is looking over to overhaul the business processes of many industries including insurance domain. The current line of business such as Property and Casualty, Health, and Life Insurance can avail tremendous benefits…
We introduce a new simulation platform called Insight, created to design and simulate cyber-attacks against large arbitrary target scenarios. Insight has surprisingly low hardware and configuration requirements, while making the simulation…
The advancement and the proliferation of information systems among enterprises have given rise to understanding cybersecurity. Cybersecurity practices provide a set of techniques and procedures to protect the systems, networks, programs and…
Cyber incident response is critical to business continuity -- we describe a new exercise that challenges professionals to play the role of Chief Information Security Officer (CISO) for a major financial organisation. Teams must decide how…
Firms in inter-organizational networks such as supply chains or strategic alliances are exposed to interdependent risks. These are risks that are transferable across partner firms. They can be decomposed into intrinsic risks a firm faces…
We study a reinsurer who faces multiple sources of model uncertainty. The reinsurer offers contracts to $n$ insurers whose claims follow compound Poisson processes representing both idiosyncratic and systemic sources of loss. As the…
Industrial reports indicate that security incidents continue to inflict large financial losses on organizations. Researchers and industrial analysts contend that there are fundamental problems with existing security incident response…
Critical infrastructure protection (CIP) is envisioned to be one of the most challenging security problems in the coming decade. One key challenge in CIP is the ability to allocate resources, either personnel or cyber, to critical…
The purpose of this paper is to present a comprehensive budget conscious security plan for smaller enterprises that lack security guidelines.The authors believe this paper will assist users to write an individualized security plan. In…
Cyber incidents can have a wide range of cause from a simple connection loss to an insistent attack. Once a potential cyber security incidents and system failures have been identified, deciding how to proceed is often complex. Especially,…
This article aims to highlight current trends on the market of corporate antivirus solutions. Brief overview of modern security threats that can destroy IT environment is provided as well as a typical structure and features of antivirus…
This paper has a double aim. One the one hand, we introduce a uni-nodal network model for cyber risks with firewalled edges and SIR intra-edge spreading. In connection to this, we formulate an insurance problem in which one seeks the…
This paper studies Pareto-optimal reinsurance design in a monopolistic market with multiple primary insurers and a single reinsurer, all with heterogeneous risk preferences. The risk preferences are characterized by a family of risk…
This paper aims to enhance the security and resilience of Critical Information Infrastructures (CIIs) by providing a dynamic collaborative, warning and response system (CyberSANE system) supporting and guiding security officers and…