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Managing cyber risk, a science in the making

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  • Michel Dacorogna
  • Marie Kratz

Abstract

Not a day goes by without news about a cyber attack. Fear spreads out and lots of wrong ideas circulate. This survey aims at showing how all these uncertainties about cyber can be transformed into manageable risk. After reviewing the main characteristics of cyber risk, we consider the three layers of cyber space: hardware, software and psycho-cognitive layer. We ask ourselves how is this risk different from others, how modelling has been tackled and needs to evolve, and what are the multi-facetted aspects of cyber risk management. This wide exploration pictures a science in the making and points out the questions to be solved for building a resilient society.

Suggested Citation

  • Michel Dacorogna & Marie Kratz, 2023. "Managing cyber risk, a science in the making," Scandinavian Actuarial Journal, Taylor & Francis Journals, vol. 2023(10), pages 1000-1021, November.
    • Handle: RePEc:taf:sactxx:v:2023:y:2023:i:10:p:1000-1021
    DOI: 10.1080/03461238.2023.2191869
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    Cited by:

    1. Dacorogna, Michel & Debbabi, Nehla & Kratz, Marie, 2023. "Building up cyber resilience by better grasping cyber risk via a new algorithm for modelling heavy-tailed data," European Journal of Operational Research, Elsevier, vol. 311(2), pages 708-729.

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