Related papers: QBER: Quantifying Cyber Risks for Strategic Decisi…

Threat modeling has emerged as a key process for understanding relevant threats within businesses. However, understanding the importance of threat events is rarely driven by the business incorporating the system. Furthermore, prioritization…

Digitization increases business opportunities and the risk of companies being victims of devastating cyberattacks. Therefore, managing risk exposure and cybersecurity strategies is essential for digitized companies that want to survive in…

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…

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…

Assessing cyber risk in complex IT infrastructures poses significant challenges due to the dynamic, interconnected nature of digital systems. Traditional methods often fall short, relying on static and largely qualitative models that do not…

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…

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…

Cyber insurance is a complementary mechanism to further reduce the financial impact on the systems after their effort in defending against cyber attacks and implementing resilience mechanism to maintain the system-level operator even though…

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…

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…

In the dynamic cyber threat landscape, effective decision-making under uncertainty is crucial for maintaining robust information security. This paper introduces the Cyber Resilience Index (CRI), a threat-informed probabilistic approach to…

Metrics and frameworks to quantifiably assess security measures have arisen from needs of three distinct research communities - statistical measures from the intrusion detection and prevention literature, evaluation of cyber exercises,…

Cyber networks are fundamental to many organization's infrastructure, and the size of cyber networks is increasing rapidly. Risk measurement of the entities/endpoints that make up the network via available knowledge about possible threats…

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…

When a threat is observed, one of the most important challenges is to choose the most appropriate and adequate timely decisions in response to the current and near future situation in order to have the least consequences and costs. Making…

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…

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…

We present and analyze a quantum algorithm to estimate credit risk more efficiently than Monte Carlo simulations can do on classical computers. More precisely, we estimate the economic capital requirement, i.e. the difference between the…

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…

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…