Nos derniers articles

The report discusses the growing threat of cyber risk to the EU's financial stability. Key points include:

• Cyber risk is a significant and systemic threat to the EU's financial sector, with increasing frequency and sophistication of attacks.

• Factors amplifying risk include geopolitical tensions, third-party IT dependencies, and the dual-edged impact of AI.

• The financial sector, including banks and insurers, faces tangible impacts from cyber threats.

• DORA is seen as a critical step requiring ongoing commitment to vigilance and resource allocation for digital infrastructure defense.

This paper argues that traditional cyber risk classifications are too restrictive for effective out-of-sample forecasting. It recommends focusing on dynamic, impact-based classifications for better predictions of cyber risk losses, suggesting that risk types are more useful for modeling event frequency rather than severity.

This paper introduces a novel multivariate dependence model to better represent cyber breach risks by capturing temporal and cross-group dependencies. Using a semi-parametric and copula approach, it improves predictive performance and generates more profitable insurance contracts, outperforming existing models in managing cyber risk and insurance pricing.

This study examines how organizations conceptualize and manage cyber risk, finding a gap between the normative risk-based management approach and actual practices. Organizations often use qualitative assessments masked as quantitative, creating an illusion of precision. The study proposes "qualculation" as the highest standard for aligning cyber risk measurement and management.