Cyber risk, a type of operational risk, is today considered a key component in the enterprise risk management framework. Under BASEL regulations, a bank could recognize the risk mitigating impact of the Cyber Liability Insurance (CLI) contract while calculating the minimum operational risk...

In a world that is increasingly connected on-line, cyber risks become critical. Cyber risk management is very difficult, as cyber loss data are typically not disclosed. To mitigate the reputational risks associated with their disclosure, loss data may be collected in terms of ordered severity...

This paper utilizes three large databases to better understand the characteristics of cyber loss events, especially how to deal with data biases and how cyber losses evolve over time. We first deal with the problem of report delay with an extended two-stage model in combination with detailed...

Cyber risk arises from contemporary conditions of informational hyperconnectivity and consequent relations of value and dependence. As the Covid-19 pandemic has illustrated, increased use of and reliance upon digital networks and systems has heightened awareness of these dynamics and deepened...

In this study an exploration of insurance risk transfer is undertaken for the cyber insurance industry in the United States of America, based on the leading industry dataset of cyber events provided by Advisen. We seek to address two core unresolved questions. First, what factors are the most...

While advances in information technology and interconnectivity have improved efficiency for transportation infrastructure, they have also created higher risk associated with cyber systems. The objective of this study is to inform transportation policy and management in the U.S. by identifying...