Reports Summarize Risk Management Research from LUMSA University (An Overview of Security Breach Probability Models): Insurance – Risk Management

2022 DEC 09 (NewsRx) -- By a News Reporter-Staff News Editor at NewsRx Policy and Law Daily -- New study results on risk management have been published. According to news originating from Rome, Italy, by NewsRx correspondents, research stated, “Cybersecurity breach probability functions describe how cybersecurity investments impact the actual vulnerability to cyberattacks through the probability of success of the attack.”

The news editors obtained a quote from the research from LUMSA University: “They essentially use mathematical models to make cyber-risk management choices. This paper provides an overview of the breach probability models that appear in the literature. For each of them, the form of the mathematical functions and their properties are described. The models exhibit a wide variety of functional relationships between breach probability and investments, including linear, concave, convex, and a mixture of the latter two. Each model describes a parametric family, with some models have a single parameter, and others have two.”

According to the news editors, the research concluded: “A sensitivity analysis completes the overview to identify the impact of the model parameters: the estimation of the parameters which have a larger influence on the breach probability is more critical and deserves greater attention.”

For more information on this research see: An Overview of Security Breach Probability Models. Risks, 2022,10(220):220. (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/risks10110220.

Our news journalists report that additional information may be obtained by contacting Alessandro Mazzoccoli, Department of Law, Economics, Politics and Modern Languages, LUMSA University, Via Marcantonio Colonna 19, 00192 Rome, Italy. Additional authors for this research include Maurizio Naldi.

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