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Books > Computing & IT > Computer communications & networking > Network security
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Security Risk Models for Cyber Insurance (Hardcover)
Loot Price: R4,098
Discovery Miles 40 980
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Security Risk Models for Cyber Insurance (Hardcover)
Expected to ship within 12 - 17 working days
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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).
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