Relevance of security intelligence data for cyber insurance risk quantification

Cyber insurance is a relatively new and growing insurance product that provides companies with compensation following cybersecurity incidents involving data breaches, business interruption, digital asset loss and/or cyber extortion. The ever-changing nature of cyber technology combined with the lack of a large history of cyber insurance claims makes it challenging for insurance companies to rapidly assess risk and determine appropriate premiums for all of their cyber insurance clients, especially for small-to-medium sized enterprises. This project aims to investigate how security intelligence data products and security-related events at can be leveraged to help The Co-operators better quantify the relative cyber risks faced by its cyber insurance clients.

Faculty Supervisor:

Hassan Khan

Student:

Anderson Ferneyhough

Partner:

Co-Operators General

Discipline:

Computer science

Sector:

Finance, insurance and business

University:

University of Guelph