A framework for incorporating insurance in critical infrastructure cyber risk strategies

Derek Young, Juan Lopez, Mason Rice, Benjamin Ramsey and Robert McTasney

International Journal of Critical Infrastructure Protection, 2016, vol. 14, issue C, 43-57

Abstract: Smart critical infrastructure owners and operators are always looking for ways to minimize cyber risk while keeping a lid on cyber security expenditures. The insurance industry has been quantitatively assessing risk for hundreds of years to minimize risk and maximize profits. To achieve these goals, insurers continuously gather and analyze statistical data to improve their predictions, incentivize client investments in self-protection and periodically refine their models to improve the accuracy of risk estimates.

Keywords: Critical infrastructure; Cyber security insurance; Quantitative risk analysis (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (11)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ijocip:v:14:y:2016:i:c:p:43-57

DOI: 10.1016/j.ijcip.2016.04.001

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