Security Risk Models For Cyber Insurance
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Security Risk Models For Cyber Insurance
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Author : David Rios Insua
language : en
Publisher: CRC Press
Release Date : 2020-12-20
Security Risk Models For Cyber Insurance written by David Rios Insua and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-12-20 with Computers categories.
Tackling the cybersecurity challenge is a matter of survival for society at large. Cyber attacks are rapidly increasing in sophistication and magnitude—and in their destructive potential. New threats emerge regularly, the last few years having seen a ransomware boom and distributed denial-of-service attacks leveraging the Internet of Things. For organisations, the use of cybersecurity risk management is essential in order to manage these threats. Yet current frameworks have drawbacks which can lead to the suboptimal allocation of cybersecurity resources. Cyber insurance has been touted as part of the solution – based on the idea that insurers can incentivize companies to improve their cybersecurity by offering premium discounts – but cyber insurance levels remain limited. This is because companies have difficulty determining which cyber insurance products to purchase, and insurance companies struggle to accurately assess cyber risk and thus develop cyber insurance products. To deal with these challenges, this volume presents new models for cybersecurity risk management, partly based on the use of cyber insurance. It contains: A set of mathematical models for cybersecurity risk management, including (i) a model to assist companies in determining their optimal budget allocation between security products and cyber insurance and (ii) a model to assist insurers in designing cyber insurance products. The models use adversarial risk analysis to account for the behavior of threat actors (as well as the behavior of companies and insurers). To inform these models, we draw on psychological and behavioural economics studies of decision-making by individuals regarding cybersecurity and cyber insurance. We also draw on organizational decision-making studies involving cybersecurity and cyber insurance. Its theoretical and methodological findings will appeal to researchers across a wide range of cybersecurity-related disciplines including risk and decision analysis, analytics, technology management, actuarial sciences, behavioural sciences, and economics. The practical findings will help cybersecurity professionals and insurers enhance cybersecurity and cyber insurance, thus benefiting society as a whole. This book grew out of a two-year European Union-funded project under Horizons 2020, called CYBECO (Supporting Cyber Insurance from a Behavioral Choice Perspective).
Adversarial Risk Analysis
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Author : David L. Banks
language : en
Publisher: CRC Press
Release Date : 2015-06-30
Adversarial Risk Analysis written by David L. Banks and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-06-30 with Business & Economics categories.
Winner of the 2017 De Groot Prize awarded by the International Society for Bayesian Analysis (ISBA)A relatively new area of research, adversarial risk analysis (ARA) informs decision making when there are intelligent opponents and uncertain outcomes. Adversarial Risk Analysis develops methods for allocating defensive or offensive resources against
Managing Cyber Risk
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Author : Ariel Evans
language : en
Publisher:
Release Date : 2019
Managing Cyber Risk written by Ariel Evans and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with Computer crimes categories.
Cyber risk is the second highest perceived business risk according to U.S. risk managers and corporate insurance experts. Digital assets now represent over 85% of an organization's value. In a survey of Fortune 1000 organizations, 83% surveyed described cyber risk as an organizationally complex topic, with most using only qualitative metrics that provide little, if any insight into an effective cyber strategy. Written by one of the foremost cyber risk experts in the world and with contributions from other senior professionals in the field, Managing Cyber Risk provides corporate cyber stakeholders - managers, executives, and directors - with context and tools to accomplish several strategic objectives. These include enabling managers to understand and have proper governance oversight of this crucial area and ensuring improved cyber resilience. Managing Cyber Risk helps businesses to understand cyber risk quantification in business terms that lead risk owners to determine how much cyber insurance they should buy based on the size and the scope of policy, the cyber budget required, and how to prioritize risk remediation based on reputational, operational, legal, and financial impacts. Directors are held to standards of fiduciary duty, loyalty, and care. These insights provide the ability to demonstrate that directors have appropriately discharged their duties, which often dictates the ability to successfully rebut claims made against such individuals. Cyber is a strategic business issue that requires quantitative metrics to ensure cyber resiliency. This handbook acts as a roadmap for executives to understand how to increase cyber resiliency and is unique since it quantifies exposures at the digital asset level.
Cyber Risk Management
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Author : Atle Refsdal
language : en
Publisher: Springer
Release Date : 2015-10-01
Cyber Risk Management written by Atle Refsdal and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-10-01 with Computers categories.
This book provides a brief and general introduction to cybersecurity and cyber-risk assessment. Not limited to a specific approach or technique, its focus is highly pragmatic and is based on established international standards (including ISO 31000) as well as industrial best practices. It explains how cyber-risk assessment should be conducted, which techniques should be used when, what the typical challenges and problems are, and how they should be addressed. The content is divided into three parts. First, part I provides a conceptual introduction to the topic of risk management in general and to cybersecurity and cyber-risk management in particular. Next, part II presents the main stages of cyber-risk assessment from context establishment to risk treatment and acceptance, each illustrated by a running example. Finally, part III details four important challenges and how to reasonably deal with them in practice: risk measurement, risk scales, uncertainty, and low-frequency risks with high consequence. The target audience is mainly practitioners and students who are interested in the fundamentals and basic principles and techniques of security risk assessment, as well as lecturers seeking teaching material. The book provides an overview of the cyber-risk assessment process, the tasks involved, and how to complete them in practice.
Digital Asset Valuation And Cyber Risk Measurement
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Author : Keyun Ruan
language : en
Publisher: Academic Press
Release Date : 2019-05-29
Digital Asset Valuation And Cyber Risk Measurement written by Keyun Ruan and has been published by Academic Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-29 with Business & Economics categories.
Digital Asset Valuation and Cyber Risk Measurement: Principles of Cybernomics is a book about the future of risk and the future of value. It examines the indispensable role of economic modeling in the future of digitization, thus providing industry professionals with the tools they need to optimize the management of financial risks associated with this megatrend. The book addresses three problem areas: the valuation of digital assets, measurement of risk exposures of digital valuables, and economic modeling for the management of such risks. Employing a pair of novel cyber risk measurement units, bitmort and hekla, the book covers areas of value, risk, control, and return, each of which are viewed from the perspective of entity (e.g., individual, organization, business), portfolio (e.g., industry sector, nation-state), and global ramifications. Establishing adequate, holistic, and statistically robust data points on the entity, portfolio, and global levels for the development of a cybernomics databank is essential for the resilience of our shared digital future. This book also argues existing economic value theories no longer apply to the digital era due to the unique characteristics of digital assets. It introduces six laws of digital theory of value, with the aim to adapt economic value theories to the digital and machine era. - Comprehensive literature review on existing digital asset valuation models, cyber risk management methods, security control frameworks, and economics of information security - Discusses the implication of classical economic theories under the context of digitization, as well as the impact of rapid digitization on the future of value - Analyzes the fundamental attributes and measurable characteristics of digital assets as economic goods - Discusses the scope and measurement of digital economy - Highlights cutting-edge risk measurement practices regarding cybersecurity risk management - Introduces novel concepts, models, and theories, including opportunity value, Digital Valuation Model, six laws of digital theory of value, Cyber Risk Quadrant, and most importantly, cyber risk measures hekla and bitmort - Introduces cybernomics, that is, the integration of cyber risk management and economics to study the requirements of a databank in order to improve risk analytics solutions for (1) the valuation of digital assets, (2) the measurement of risk exposure of digital assets, and (3) the capital optimization for managing residual cyber risK - Provides a case study on cyber insurance
Encyclopedia Of Cryptography Security And Privacy
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Author : Sushil Jajodia
language : en
Publisher: Springer Nature
Release Date : 2025-01-10
Encyclopedia Of Cryptography Security And Privacy written by Sushil Jajodia and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-01-10 with Computers categories.
A rich stream of papers and many good books have been written on cryptography, security, and privacy, but most of them assume a scholarly reader who has the time to start at the beginning and work his way through the entire text. The goal of Encyclopedia of Cryptography, Security, and Privacy, Third Edition is to make important notions of cryptography, security, and privacy accessible to readers who have an interest in a particular concept related to these areas, but who lack the time to study one of the many books in these areas. The third edition is intended as a replacement of Encyclopedia of Cryptography and Security, Second Edition that was edited by Henk van Tilborg and Sushil Jajodia and published by Springer in 2011. The goal of the third edition is to enhance on the earlier edition in several important and interesting ways. First, entries in the second edition have been updated when needed to keep pace with the advancement of state of the art. Second, as noticeable already from the title of the encyclopedia, coverage has been expanded with special emphasis to the area of privacy. Third, considering the fast pace at which information and communication technology is evolving and has evolved drastically since the last edition, entries have been expanded to provide comprehensive view and include coverage of several newer topics.
Cyber Risk For The Financial Sector A Framework For Quantitative Assessment
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Author : Antoine Bouveret
language : en
Publisher: International Monetary Fund
Release Date : 2018-06-22
Cyber Risk For The Financial Sector A Framework For Quantitative Assessment written by Antoine Bouveret and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-06-22 with Computers categories.
Cyber risk has emerged as a key threat to financial stability, following recent attacks on financial institutions. This paper presents a novel documentation of cyber risk around the world for financial institutions by analyzing the different types of cyber incidents (data breaches, fraud and business disruption) and identifying patterns using a variety of datasets. The other novel contribution that is outlined is a quantitative framework to assess cyber risk for the financial sector. The framework draws on a standard VaR type framework used to assess various types of stability risk and can be easily applied at the individual country level. The framework is applied in this paper to the available cross-country data and yields illustrative aggregated losses for the financial sector in the sample across a variety of scenarios ranging from 10 to 30 percent of net income.
Cyber Strategy
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Author : Carol A. Siegel
language : en
Publisher: CRC Press
Release Date : 2020-03-23
Cyber Strategy written by Carol A. Siegel and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-03-23 with Computers categories.
Cyber Strategy: Risk-Driven Security and Resiliency provides a process and roadmap for any company to develop its unified Cybersecurity and Cyber Resiliency strategies. It demonstrates a methodology for companies to combine their disassociated efforts into one corporate plan with buy-in from senior management that will efficiently utilize resources, target high risk threats, and evaluate risk assessment methodologies and the efficacy of resultant risk mitigations. The book discusses all the steps required from conception of the plan from preplanning (mission/vision, principles, strategic objectives, new initiatives derivation), project management directives, cyber threat and vulnerability analysis, cyber risk and controls assessment to reporting and measurement techniques for plan success and overall strategic plan performance. In addition, a methodology is presented to aid in new initiative selection for the following year by identifying all relevant inputs. Tools utilized include: Key Risk Indicators (KRI) and Key Performance Indicators (KPI) National Institute of Standards and Technology (NIST) Cyber Security Framework (CSF) Target State Maturity interval mapping per initiative Comparisons of current and target state business goals and critical success factors A quantitative NIST-based risk assessment of initiative technology components Responsible, Accountable, Consulted, Informed (RACI) diagrams for Cyber Steering Committee tasks and Governance Boards’ approval processes Swimlanes, timelines, data flow diagrams (inputs, resources, outputs), progress report templates, and Gantt charts for project management The last chapter provides downloadable checklists, tables, data flow diagrams, figures, and assessment tools to help develop your company’s cybersecurity and cyber resiliency strategic plan.
The Cyber Risk Handbook
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Author : Domenic Antonucci
language : en
Publisher: John Wiley & Sons
Release Date : 2017-05-01
The Cyber Risk Handbook written by Domenic Antonucci and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-05-01 with Business & Economics categories.
Actionable guidance and expert perspective for real-world cybersecurity The Cyber Risk Handbook is the practitioner's guide to implementing, measuring and improving the counter-cyber capabilities of the modern enterprise. The first resource of its kind, this book provides authoritative guidance for real-world situations, and cross-functional solutions for enterprise-wide improvement. Beginning with an overview of counter-cyber evolution, the discussion quickly turns practical with design and implementation guidance for the range of capabilities expected of a robust cyber risk management system that is integrated with the enterprise risk management (ERM) system. Expert contributors from around the globe weigh in on specialized topics with tools and techniques to help any type or size of organization create a robust system tailored to its needs. Chapter summaries of required capabilities are aggregated to provide a new cyber risk maturity model used to benchmark capabilities and to road-map gap-improvement. Cyber risk is a fast-growing enterprise risk, not just an IT risk. Yet seldom is guidance provided as to what this means. This book is the first to tackle in detail those enterprise-wide capabilities expected by Board, CEO and Internal Audit, of the diverse executive management functions that need to team up with the Information Security function in order to provide integrated solutions. Learn how cyber risk management can be integrated to better protect your enterprise Design and benchmark new and improved practical counter-cyber capabilities Examine planning and implementation approaches, models, methods, and more Adopt a new cyber risk maturity model tailored to your enterprise needs The need to manage cyber risk across the enterprise—inclusive of the IT operations—is a growing concern as massive data breaches make the news on an alarmingly frequent basis. With a cyber risk management system now a business-necessary requirement, practitioners need to assess the effectiveness of their current system, and measure its gap-improvement over time in response to a dynamic and fast-moving threat landscape. The Cyber Risk Handbook brings the world's best thinking to bear on aligning that system to the enterprise and vice-a-versa. Every functional head of any organization must have a copy at-hand to understand their role in achieving that alignment.
Design Research In Information Systems
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Author : Alan Hevner
language : en
Publisher: Springer Science & Business Media
Release Date : 2010-06-14
Design Research In Information Systems written by Alan Hevner and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-06-14 with Business & Economics categories.
It is 5 years since the publication of the seminal paper on “Design Science in Information Systems Research” by Hevner, March, Park, and Ram in MIS Quarterly and the initiation of the Information Technology and Systems department of the Communications of AIS. These events in 2004 are markers in the move of design science to the forefront of information systems research. A suf cient interval has elapsed since then to allow assessment of from where the eld has come and where it should go. Design science research and behavioral science research started as dual tracks when IS was a young eld. By the 1990s, the in ux of behavioral scientists started to dominate the number of design scientists and the eld moved in that direction. By the early 2000s, design people were having dif culty publishing in mainline IS journals and in being tenured in many universities. Yes, an annual Workshop on Information Technology and Systems (WITS) was established in 1991 in conju- tion with the International Conference on Information Systems (ICIS) and grew each year. But that was the extent of design science recognition. Fortunately, a revival is underway. By 2009, when this foreword was written, the fourth DESRIST c- ference has been held and plans are afoot for the 2010 meeting. Design scientists regained respect and recognition in many venues where they previously had little.