Possibilities of modelling the impact of cyber threats in cyber risk insurance

Abstract

In the last few years, we could see that a lot of world organizations are contested by different ways, which we are called as cyber threats or cyber risks. Many of organizations are well secured, but the most of them admitted that they are not able to successfully prevent these attacks and they tried to find other ways to mitigate the risk. This paper describes a possible approach to modeling the impact of selected cyber threats in the field of providing cyber-risk insurance. It compares predefined organizational parameters in relation to cyber threats scenarios. The main results include modeling the impact of selected cyber threats on the organization's parameters. Based on these results, it is possible to quantify possible financial impacts and, on the basis of this, to propose an optimal amount of insurance cover. © 2018 The Authors, published by EDP Sciences.