Cyber risk management: an actuarial point of view

In recent decades, companies worldwide have faced a new kind of risk, namely cyber risk, that has emerged as one of the top challenges in risk management. Insurance has only recently been applied to the cyber world, and it is increasingly becoming part of the risk management process, posing many challenges to actuaries. One of the main issues is the lack of data, particularly financial data. This paper points out the peculiarities of cyber...