Research Results from University of Pavia Update Knowledge of Risk Management (Cyber Risk Contagion): Insurance – Risk Management

2023 OCT 05 (NewsRx) -- By a News Reporter-Staff News Editor at NewsRx Policy and Law Daily -- New research on risk management is the subject of a new report. According to news originating from Pavia, Italy, by NewsRx correspondents, research stated, “Financial technologies (fintechs) are continuously expanding, across different markets and financial services.”

Funders for this research include European Commission Periscope Project.

The news editors obtained a quote from the research from University of Pavia: “While financial technologies bring many opportunities, such as reduced costs and extended inclusion, they also bring risks, among which include cyber risks, that are difficult to measure. One of the difficulties that arise in the measurement of cyber risks is the interdependence among cyber losses, a problem that has not yet been solved. To fill the gap, this paper proposes a multivariate model for cyber risks, based on their observed time series of counts.”

According to the news editors, the research concluded: “The time-varying intensity parameter of the model determines the probability that a cyber attack occurs, and its specification takes not only time but also sectorial interdependence into account. The effectiveness of the proposed model is demonstrated by means of a real cyber loss dataset, in which there exists time and sectorial dependence among different events.”

For more information on this research see: Cyber Risk Contagion. Risks, 2023,11(9). (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/risks11090165.

Our news journalists report that additional information may be obtained by contacting Arianna Agosto, Department of Economics and Management, University of Pavia, Via San Felice 5, 27100 Pavia, Italy. Additional authors for this research include Paolo Giudici.

ORCID is an identifier for authors and includes bibliographic information. The following is ORCID information for the authors of this research: Arianna Agosto (http://orcid.org/0000-0001-6551-086X), Paolo Giudici (http://orcid.org/0000-0002-4198-0127).

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