A deep dive into the considerations taken to create a definition of a cyber catastrophe for cyber risk modeling.
In this article you can learn more about:
Discussion on the misalignment of the term “event” by cybersecurity and insurance professionals.
Explanation of an impact based modeling approach, which links the effect of a cyber event with its financial implications.
A cyber catastrophe is defined as an infrequent cyber event that causes severe loss, injury, or property damage to a large population of cyber exposures.