CORDIS Project
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The QCYRISK project aims to enhance cyber risk assessment by extracting loss models from insurance pricing data. It focuses on developing methods to quantify cyber risks, including ransomware, based on firm-specific characteristics, ultimately providing valuable insights for risk managers.
Quantifying cyber risk is an important step in assigning resources to prevention.
Yet data limitations mean that current estimates ignore certain incidents (e.g ransomware), rarely provide the financial cost, and cannot describe how risk varies based on the firm’s revenue or industry.
Surprisingly insurers sell cyber insurance for the ignored incident types and vary the price based on firm-specific characteristics.
Extracting insurers’ cyber loss models could help firms manage risk, regardles…
UNIVERSITAET INNSBRUCK
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