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arXiv Open Access 2021

Aggregate Cyber-Risk Management in the IoT Age: Cautionary Statistics for (Re)Insurers and Likes

Ranjan Pal Ziyuan Huang Xinlong Yin Sergey Lototsky Swades De +4 lainnya
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Abstrak

In this paper, we provide (i) a rigorous general theory to elicit conditions on (tail-dependent) heavy-tailed cyber-risk distributions under which a risk management firm might find it (non)sustainable to provide aggregate cyber-risk coverage services for smart societies, and (ii)a real-data driven numerical study to validate claims made in theory assuming boundedly rational cyber-risk managers, alongside providing ideas to boost markets that aggregate dependent cyber-risks with heavy-tails.To the best of our knowledge, this is the only complete general theory till date on the feasibility of aggregate cyber-risk management.

Topik & Kata Kunci

cs.PF eess.SY q-fin.RM

Penulis (9)

R

Ranjan Pal

Z

Ziyuan Huang

X

Xinlong Yin

S

Sergey Lototsky

S

Swades De

S

Sasu Tarkoma

M

Mingyan Liu

J

Jon Crowcroft

N

Nishanth Sastry

Format Sitasi

APA MLA BibTeX
Pal, R., Huang, Z., Yin, X., Lototsky, S., De, S., Tarkoma, S. et al. (2021). Aggregate Cyber-Risk Management in the IoT Age: Cautionary Statistics for (Re)Insurers and Likes. https://arxiv.org/abs/2105.01792

Akses Cepat

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Informasi Jurnal
Tahun Terbit
2021
Bahasa
en
Sumber Database
arXiv
Akses
Open Access ✓