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ARIA Actuarial Award on Cyber Risk Insurance

We are happy and honoured that the paper “Capital Requirements for Cyber Risk and Cyber Risk Insurance” (by Professor Martin Eling and former PhD student Werner Schnell) was recently selected for the American Risk and Insurance Association’s  & Arnold F. Shapiro Actuarial Award. This award,  initiated in 2010, recognizes risk management and insurance articles printed in actuarial journals.

In the paper the authors show that regulatory models underestimate the potential risks associated with cyber threats. This is especially true for small cyber insurance portfolios, which are predominant in practice today. Regulatory models should be adapted to account for the heavy tails and dependence structure specific to cyber risks.

Author: Elisabeth Heidecke

Date: 17. May 2022