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There are two strategic and longstanding questions about cyber risk that organizations largely have been unable to answer: What is an organization's estimated risk exposure and how does its security compare with peers? Answering both…

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…

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…

The UK Critical National Infrastructure is critically dependent on digital technologies that provide communications, monitoring, control, and decision-support functionalities. Digital technologies are progressively enhancing efficiency,…

Cyber risk refers to the risk of defacing reputation, monetary losses, or disruption of an organization or individuals, and this situation usually occurs by the unconscious use of cyber systems. The cyber risk is unhurriedly increasing day…

A smart city is a place where existing facilities and services are enhanced by digital technology to benefit people and companies. The most critical infrastructures in this city are interconnected. Increased data exchange across municipal…

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…

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…

Cybersecurity governance influences the quality of strategic decision-making to ensure cyber risks are managed effectively. Board of Directors are the decisions-makers held accountable for managing this risk; however, they lack adequate and…

Cloud infrastructures are being increasingly utilized in critical infrastructures such as banking/finance, transportation and utility management. Sophistication and resources used in recent security breaches including those on critical…

Solving cybersecurity issues requires a holistic understanding of components, factors, structures and their interactions in cyberspace, but conventional modeling approaches view the field of cybersecurity by their boundaries so that we are…

Cyber attacks are growing in frequency and severity. Over the past year alone we have witnessed massive data breaches that stole personal information of millions of people and wide-scale ransomware attacks that paralyzed critical…

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…

Pricing insurance for risks associated with information technology systems presents a complex modelling challenge, combining the disciplines of operations management, security, and economics. This work proposes a socioeconomic modelling…

With rise in security breaches over the past few years, there has been an increasing need to mine insights from social media platforms to raise alerts of possible attacks in an attempt to defend conflict during competition. We use…

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…

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…

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…

With rise in security breaches over the past few years, there has been an increasing need to mine insights from social media platforms to raise alerts of possible attacks in an attempt to defend conflict during competition. In this study,…

Cybersecurity risk is commonly expressed through impact and likelihood, yet likelihood remains difficult to estimate because cyber incidents are underreported, heterogeneous datasets are weakly comparable, and attacker behaviour changes…