Cyber Risk Modeling

Course Overview

This course is designed to provide a comprehensive introduction to cyber risk modeling, focusing on the unique challenges that differentiate it from other forms of risk modeling, such as catastrophe (CAT) risk. We will explore fundamental concepts, tools, and frameworks necessary for understanding and applying cyber risk modeling techniques in practice. We will examine the key challenges in modeling cyber risk and discuss how these challenges shape our approach to quantifying cyber exposure. Participants will learn about the critical components of cyber models, the types of data necessary for effective modeling, and the various frameworks used in the industry to assess cyber risk.

Learning Objectives

• Define EP and explain how it is used in catastrophe modeling.
• Apply challenges that are unique to cyber risk demonstrate how approaches to cyber risk necessarily differ to those applied to other risks.
• Recall how EP curves are interpreted in the context of cyber risk modeling.
• Assess cyber policy T&Cs and minimum cyber hygiene benchmark requirements based on cyber exposure data.
• Describe how cyber events are generated and interpreted.