Related papers: Optimisation of cyber insurance coverage with sele…
In the design of software and cyber-physical systems, security is often perceived as a qualitative need, but can only be attained quantitatively. Especially when distributed components are involved, it is hard to predict and confront all…
We investigate the optimal investment-reinsurance problem for insurance company with partial information on the market price of the risk. Through the use of filtering techniques we convert the original optimization problem involving…
Cyber risks are the most common risks encountered by a modern network system. However, it is significantly difficult to assess the joint cyber risk owing to the network topology, risk propagation, and heterogeneities of components. In this…
Risk is unavoidable in business and risk management is needed amongst others to set up good security policies. Once the risks are evaluated, the next step is to decide how they should be treated. This involves managers making decisions on…
This paper proposes a game-theoretic method to address the problem of optimal detector placement in a networked control system under cyber-attacks. The networked control system is composed of interconnected agents where each agent is…
We investigate an optimal reinsurance problem for an insurance company facing a constant fixed cost when the reinsurance contract is signed. The insurer needs to optimally choose both the starting time of the reinsurance contract and the…
This paper concerns the security of the electric power transmission grid facing the threat of malicious cyber-physical attackers. We posit that there is no such thing as perfectly effective cyber-security. Rather, any cyber-security measure…
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…
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…
This paper addresses the security allocation problem in a networked control system under stealthy injection attacks. The networked system is comprised of interconnected subsystems which are represented by nodes in a digraph. An adversary…
Not a day goes by without news about a cyber attack. Fear spreads out and lots of wrong ideas circulate. This survey aims at showing how all these uncertainties about cyber can be transformed into manageable risk. After reviewing the main…
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…
As cybercriminals scale up their operations to increase their profits or inflict greater harm, we argue that there is an equal need to respond to their threats by scaling up cybersecurity. To achieve this goal, we have to develop a…
With the advances in information technology (IT) criminals are using cyberspace to commit numerous cyber crimes. Cyber infrastructures are highly vulnerable to intrusions and other threats. Physical devices and human intervention are not…
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…
This paper addresses the security allocation problem within networked control systems, which consist of multiple interconnected control systems under the influence of two opposing agents: a defender and a malicious adversary. The adversary…
This paper examines how Canadian firms balance the benefits of technology adoption against the rising risk of cyber security breaches. We merge data from the 2021 Canadian Survey of Digital Technology and Internet Use and the 2021 Canadian…
We study an optimal dividend problem for an insurer who simultaneously controls investment weights in a financial market, liability ratio in the insurance business, and dividend payout rate. The insurer seeks an optimal strategy to maximize…
This paper introduces a novel approach for the automated selection of software protections to mitigate MATE risks against critical assets within software applications. We formalize the key elements involved in protection decision-making -…
We introduce a decision-making framework tailored for the management of systemic risk in networks. This framework is constructed upon three fundamental components: (1) a set of acceptable network configurations, (2) a set of interventions…