Recent Findings from National Research Council Italy (CNR) Highlight Research in Risk Management (Cyber Risk Quantification: Investigating the Role of Cyber Value at Risk): Insurance – Risk Management

2021 NOV 10 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Research findings on insurance are discussed in a new report. According to news reporting out of Naples, Italy, by NewsRx editors, research stated, “The aim of this paper is to deepen the application of value at risk in the cyber domain, with particular attention to its potential role in security investment valuation.”

The news editors obtained a quote from the research from National Research Council Italy (CNR): “Cyber risk is a fundamental component of the overall risk faced by any organization. In order to plan the size of security investments and to estimate the consequent risk reduction, managers strongly need to quantify it. Accordingly, they can decide about the possibility of sharing residual risk with a third party, such as an insurance company. Recently, cyber risk management techniques are including some risk quantile-based measures that are widely employed in the financial domain. They refer to value at risk that, in the cyber context, takes the name of cyber value at risk (Cy-VaR). In this paper, the main features and challenging issues of Cy-VaR are examined.”

According to the news editors, the research concluded: “The possible use of this risk measure in supporting investment decisions in cyber context is discussed, and new risk-based security metrics are proposed. Some simple examples are given to show their potential.”

For more information on this research see: Cyber Risk Quantification: Investigating the Role of Cyber Value at Risk. Risks, 2021,9(184):184. (Risks - http://www.mdpi.com/journal/risks). The publisher for Risks is MDPI AG.

A free version of this journal article is available at https://doi.org/10.3390/risks9100184.

Our news journalists report that additional information may be obtained by contacting Albina Orlando, Istituto per le Applicazioni del Calcolo “Mauro Picone”, National Research Council Italy (CNR), Via Pietro Castellino 111, 80131 Naples, Italy.

(Our reports deliver fact-based news of research and discoveries from around the world.)