Cyber Risk: How Cyber Events Become Costly - Quantifying and Modeling Impacts

Explore the complex world of cyber risk quantification in this 42-minute conference talk from BSidesLV. Delve into the challenges of accurately assessing cyber security incidents' costs, which require a deep understanding of technology, assets, and business functions. Learn why quantifying cyber risk is problematic due to limited data availability on actual losses and incomplete public information. Discover how top companies leverage advanced cyber risk models to evaluate their exposure. Gain insights into the various components of cyber incident costs, including well-known factors like ransom payments and business interruptions, as well as less obvious but equally significant expenses. Understand the methodology behind modeling these costs and identifying critical factors to consider when assessing cyber risk. Presented by Wendy Hou-Neely, this talk provides a high-level overview of cyber risk quantification techniques and essential considerations for organizations seeking to protect themselves from costly cyber events.