Cyber Risk Measurement and Management: An Introduction to Cybernomics envisions the indispensable role of economic modeling in the future of digitization. By means of a four-part framework, the book prepares industry to systematically collect necessary information to optimize the management of financial risks associated with this mega trend. It addresses three problem areas: the valuation of digital assets, the quantification of risk exposures of digital valuables, and economic modelling for the management of such risks. With the help of a novel cyber risk measurement unit, its solution framework includes value, risk, control, and cost. Cyber Risk Measurement and Management considers these solutions from three views: entity, portfolio, and global. The solution framework is built around cyber risk measurement units defined in this book. Brings cutting-edge risk management practices to bear to the topic of cyber security risk mitigationFocuses on topics such as insurance, ISO standards, and supply chain vulnerabilitiesPresents a model to convert domain-based control assessments to scenario-based control assessmentsEstimates costs of improvements to strengthen control effectiveness against a given scenarioApplies classic risk management options (risk acceptance, risk avoidance, risk mitigation, and risk transfer) to cyber riskProvides detailed analyses of capital allocations INDICE: 1. Introduction Section 1 Valuation of Digital Assets 2. Intrinsic, Market and Subjective Value of Digital Assets 3. Nature of Digital Infrastructure 4. Value Aggregation in the Digital Supply Chain Section 2 Inherent Risks of Digital Valuables 5. A Data-centric View of Entity-level Inherent Cyber Risk Profiling 6. Nature of a Cyber Loss Event 7. Cyber Risk Accumulation in a Portfolio of Entities 8. Defining the Cyber Risk Unit - GLMR Section 3 Control Effectiveness for Cyber Risk 9. Measuring Cyber Risk Exposure: the Conversion from Qualitative Risk Assessments to Quantitative Measurements 10. Value of Benchmarking and the Influence of Peers 11. Measuring Return of Investment (ROI) for Cyber Transformation Programs Section 4 Capital Modelling for Managing Residual Cyber Risk 12. Quantifying Residual Cyber Risk Using Structured Loss Scenario Analysis 13. Articulation of Cyber Risk Appetite 14. Transferring Residual Cyber Risk through Insurance 15. Point of Diminishing Returns for Cyber Resilience Investment
- ISBN: 978-0-12-812158-0
- Editorial: Academic Press
- Encuadernacion: Rústica
- Páginas: 175
- Fecha Publicación: 01/11/2017
- Nº Volúmenes: 1
- Idioma: Inglés