Catastrophic Cyber Risk: An Expert Panel Discussion Series

Authors

Unal Tatar, PhD
Brian Nussbaum, PhD
Omer F. Keskin, PhD
Doug Clifford, Program Manager of CART
Elisabeth Dubois, MBA, PMP
Dominick Foti, MBA
Brianna Bace
Rian Davis

Description

With the growing threat of cyber incidents, organizations and governments are rightfully concerned. In recent years, cyber incidents have caused significant losses to entities and insurers across the world. Therefore, there is a need to understand and provide greater context around the topic of catastrophic cyber risk, which has implications for insurance companies, reinsurers, regulators, consumers, and society. Taking a multi-disciplinary, holistic approach, an expert panel study was conducted on catastrophic cyber risk in this four-part series of discussions and subsequent reports.

Part 1: Sets the scene and frames catastrophic cyber risk.

Part 2: Employs Red Teaming analysis of a catastrophic cyber-attack on critical infrastructure.

Part 3: Employs Red Teaming Analysis of a widespread catastrophic cyber incident.

Part 4: Focuses on catastrophic cyber risks and the role of the cyber insurance sector and its stakeholders.

Materials

Catastrophic Cyber Risk: An Expert Panel Discussion Part 1

Catastrophic Cyber Risk: An Expert Panel Discussion Part 2

Catastrophic Cyber Risk: An Expert Panel Discussion Part 3

Catastrophic Cyber Risk: An Expert Panel Discussion Part 4

Podcast

Catastrophic Cyber Risk: An Expert Panel Discussion Series

Acknowledgments

The authors’ deepest gratitude goes to those without whose efforts this project could not have come to fruition: the volunteers who generously shared their wisdom, insights, advice, guidance, and arm’s-length review of this study prior to publication. Any opinions expressed may not reflect their opinions nor those of their employers. Any errors belong to the authors alone.

Expert Panel Participants:
Seth Baum, Global Catastrophic Risk Institute
Michael Bean, Canadian Institute of Actuaries
Nicole Becher, Google
Kenneth Crowther, Xylem
Gregory Falco, Johns Hopkins University
Ben Goodman, 4A Security and Compliance
Jim Haltom, DHS CISA
Howard Miller, LBW Insurance
Tyler Moore, University of Tulsa
Norman Niami, American Academy of Actuaries
Reid Putnam, Gregory & Appel Insurance
Sasha Romanosky, RAND Corporation
Marc Schein, Marsh McLennan
Scott Stransky, Marsh McLennan
Jeremy Straub, North Dakota State University
Daniel Woods, University of Edinburg   
Maochao Xu, Illinois State University

At the Society of Actuaries Research Institute:
Rob Montgomery, ASA, MAAA, FLMI, Consultant -Research Project Manager

Facilitators at the University at Albany:
Unal Tatar, PhD, Assistant Professor
Brian Nussbaum, PhD, Associate Professor
Omer F. Keskin, PhD, Assistant Professor
Doug Clifford, Program Manager of CART
Elisabeth Dubois, MBA, PMP
Dominick Foti, MBA
Brianna Bace
Rian Davis

The Society of Actuaries Research Institute would like to acknowledge the generous contribution of the Casualty Actuarial Society to the funding of this research.

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