Centro de Documentacion de Fundación MAPFRE - Discussion on A comprehensive model for cyber risk based on marked point processes and its applications to insurance' (Zeller, Scherer)

Notes: Sumario: In the recent years digitization of the economy has become a significant topic. This has been accelerated by the pandemic. Not only that new digital business models are being developed but also very traditional business models are influenced by this trend. The number of digital devices is exponentially increasing. We are not only talking about computer and IT networks but also operational technology is connected to the internet. With the higher degree of digitization also cyber risk will get more importance. This highly dynamic risk still is not well understood. Awareness has improved significantly but still there are deficiencies in adequately managing this risk. Within the last decade insurance of cyber risks has become much more popular and with an average CAGR of 35% it is one of the fastest growing segments. The fear of systemic events and the fact that a couple of insurance companies were not profitable in writing cyber insurance lead to a reduction of capacity confronted with an increasing demand. It is very important to generate confidence that we are able to quantify the cyber risk and therefore control it. There are only a few actuarial approaches so far to provide a scientific basis for this. The presented research paper therefore is very welcome even if it mirrors the general problem that the field is still in an immature stage at this point.

Related records: En: European Actuarial Journal. - Cham, Switzerland : Springer Nature Switzerland AG, 2021-2022. - 06/06/2022 Volúmen 12 - Número 1 - junio 2022 , p. 87-88Materia / lugar / evento: Cálculo actuarial Ciberriesgos Other categories: 6

Rights: In Copyright (InC)

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