Title
Design, demonstration, and evaluation of an information security contract and trading mechanism to hedge information security risks Design, demonstration, and evaluation of an information security contract and trading mechanism to hedge information security risks
Author
Faculty/Department
Faculty of Applied Economics
Publication type
conferenceObject
Publication
Springer, [*]
Subject
Economics
Computer. Automation
Source (book)
Security and Trust Management : 11th International Workshop, STM 2015, Vienna, Austria, September 21-22, 2015, Proceedings / Foresti, Sarah [edit.]
Security and cryptology ; 9331
ISSN
0302-9743
ISBN
978-3-319-24857-8
978-3-319-24858-5
ISI
000366121800019
Carrier
E
Target language
English (eng)
Full text (Publishers DOI)
Affiliation
University of Antwerp
Abstract
Cyber-insurance products are the only financial instrument available as a risk-transfer mechanism in the information security domain. Furthermore, cyber-insurance markets are unable or unwilling to facilitate the transfer of risks, particularly those with a high probability and high intensity of loss. Thus, there is a need for a new mechanism to address the variety of information security risks. This article addresses the shortcomings in the existing information security risk hedging market. The article presents a financial instrument and a corresponding trading mechanism to be used for risk hedging in an information security prediction market. Also, the article uses an imaginary case to demonstrate the application of the contract. Furthermore, an evaluation of the contract and trading mechanism in its usefulness in hedging the underlying risks is presented. In our analysis, we found that information security contracts can be a solution (at least to some extent) to the problems in the existing risk hedging mechanisms in the information security domain.
E-info
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