Loss Graph: industry specific
approach to cyber risk quantification
- Quantification of cyber risk has been a big topic for many years, however, it has not been addressed properly yet, and the accurate estimation of financial losses due to cyber incidents remains problematic for both the security and risk underwriting industries.
- Typical approaches are often superficial and not comprehensive enough, and they can be grouped into two categories (1) data-based approach, (2) experts-based approach.
- Check out what we did at Tower Street, where we combine both of these and how we approached the subject of quantification of the risk.