Cybersecurity insurance and risk-sharing Bodin, Lawrence D.; Gordon, Lawrence A.; Loeb, Martin P. ...
Journal of accounting and public policy,
11/2018, Letnik:
37, Številka:
6
Journal Article
Recenzirano
In today’s interconnected digital world, cybersecurity risks and resulting breaches are a fundamental concern to organizations and public policy setters. Accounting firms, as well as other firms ...providing risk advisory services, are concerned about their clients’ potential and actual breaches. Organizations cannot, however, eliminate all cybersecurity risks so as to achieve 100% security. Furthermore, at some point additional cybersecurity measures become more costly than the benefits from the incremental security. Thus, those responsible for preventing cybersecurity breaches within their organizations, as well as those providing risk advisory services to those organizations, need to think in terms of the cost-benefit aspects of cybersecurity investments. Besides investing in activities that prevent or mitigate the negative effects of cybersecurity breaches, organizations can invest in cybersecurity insurance as means of transferring some of the cybersecurity risks associated with potential future breaches.
This paper provides a model for selecting the optimal set of cybersecurity insurance policies by a firm, given a finite number of policies being offered by one or more insurance companies. The optimal set of policies for the firm determined by this selection model can (and often does) contain at least three areas of possible losses not covered by the selected policies (called the Non-Coverage areas in this paper). By considering sets of insurance policies with three or more Non-Coverage areas, we show that a firm is often better able to address the frequently cited problems of high deductibles and low ceilings common in today’s cybersecurity insurance marketplace. Our selection model facilitates improved risk-sharing among cybersecurity insurance purchasers and sellers. As such, our model provides a basis for a more efficient cybersecurity insurance marketplace than currently exists. Our model is developed from the perspective of a firm purchasing the insurance policies (or the risk advisors guiding the firm) and assumes the firm’s objective in purchasing cybersecurity insurance is to minimize the sum of the costs of the premiums associated with the cybersecurity insurance policies selected and the sum of the expected losses not covered by the insurance policies.
The fatigue damage caused by multiple-axle configurations is a key issue for pavement design. The standard fatigue test consists of the application of a continuous sinusoidal signal on a specimen, ...which enables the fatigue life to be described as a function of the strain level. For more complex loading signals, additional parameters were found to have an influence on the fatigue life of bituminous mixtures. In the French design method, the effect of multiple-axle loadings is simplified and taken into account via load equivalency factors using Miner's Law. In this article, we present a method for the computation of the fatigue life of bituminous mixtures under multiple-axle configurations that couples a structural approach and a material-based approach. The structural approach consists of a parametric study of real loading signals that enables the computation of the independent shape parameters characterising a loading signal. An experimental plan whose variables are the independent shape parameters was then defined and the synthetic loading signals constructed (material-based approach). The results of the laboratory fatigue tests enabled the computation of a multi-linear fatigue model that writes the fatigue life as a function of the independent shape parameters characterising the loading signal.
One method for defining pathways through which children develop severe conduct problems is based on the presence or absence of callous-unemotional (CU) traits. This study investigated potential ...differences between nonreferred children (mean age = 12.36 years;
SD
= 1.73) with and without CU traits (
n
= 98). Children with conduct problems, irrespective of the presence of CU traits, tended to have significant problems in emotional and behavioral regulation. In contrast, CU traits, irrespective of the presence of conduct problems, were associated with a lack of behavioral inhibition. Hostile attributional biases were associated with conduct problems but only in boys and in the absence of CU traits. These findings suggest that the processes underlying deficits in emotional and behavioral regulation in children with conduct problems may be different for children with CU traits.
Soil moisture content (MC) and density of pavement materials exert a great influence on pavement performance. Cyclic traffic loading with increasing MC in materials can accelerate changes in density ...significantly. Time domain reflectometry (TDR) is a non-destructive method for measuring MC and density of soil. In this study, TDR measurements were taken in the laboratory for a typical road material at two different conditions; at constant MC with different density and at constant dry density with different MC. Based on TDR measurements, a theoretical formulation between voltage drop occurring for the passage of an electromagnetic wave through the soil and the electrical conductivity (EC) is developed. This relationship is further correlated to develop density function providing the opportunity to obtain MC information. For the validation of the calibration functions, sensors are installed in roads to obtain field data. Laboratory results point out that the calibration models are independent of moisture and density, and the field instrumentation shows the satisfactory accuracy of the method. The newly established calibration models allow for observing the routine performance providing a better understanding of the material behaviour for example rutting of roads.
Soil moisture content and dry density of unbound granular pavement materials are important properties for compaction control that influence pavement performance under cyclic loading. Under these ...loading conditions, increasing moisture content can accelerate significant changes in density. Time domain reflectometry (TDR) is a method for measuring the moisture content and density of soils with rod probe sensors. This paper introduces new calibration functions for TDR measurements using these rod probe sensors embedded in the soil. TDR measurements were taken in the laboratory for a typical road base material at two basically different conditions: at constant moisture content with different dry densities and at constant dry density with different moisture contents. In this study, a relationship was developed between the voltage drop occurring for the passage of an electromagnetic wave through the soil and the bulk density. The permittivity of the soil sample obtained from the travel time of TDR signals was used to calculate the volumetric moisture content. Finally, the gravimetric moisture content was obtained from the volumetric moisture content and bulk density relationship. For the validation of the calibration functions, rod probe sensors were installed in a road to obtain in situ moisture content and density under field conditions. Laboratory results indicate that the calibration functions are independent of moisture and density, and the field test shows the applicability of the method. The newly developed calibration functions allow for the monitoring of the long-term pavement performance, leading to a better understanding of the time-dependent evolution of, for example, rutting of roads.
Carpometacarpal (CMC) arthritis of the thumb affects half of postmenopausal women and up to 25% of elderly men. This disease can cause significant disability in affected patients often necessitating ...surgical intervention. Various surgical options have been used to treat refractory CMC arthritis. Any successful surgical intervention must address three goals: removal of diseased joint surfaces, reconstruction of ligamentous stabilizers, and preservation of the joint space. In this article we will discuss various interposition arthroplasty options for CMC arthritis of the thumb.
Unbound Granular Materials (UGMs) are used in the base/subbase layers of flexible pavement structures for the vast majority of the main roads around the world. The resilient modulus of UGMs is a key ...input parameter for the design and analysis of flexible pavement structures. In the present study, four road base UGMs with a range of moisture contents are used to evaluate each material’s resilient deformation behaviour using laboratory repeated load triaxial tests. The triaxial system for the tests is instrumented with four axial deformation gauges: an on-specimen axial Hall-Effect transducer, an internal Linear Variable Differential Transformer (LVDT), an external LVDT, and the actuator LVDT. The application of a Hall-Effect transducer directly mounted on the specimen and the three LVDTs permits the comparative study of alternative deformation measurements for the determination of an accurate and reliable resilient modulus value. By comparing tests results obtained with each transducer, the relative capability of each measurement is determined and a reference transducer for deformation measurement is identified. A constitutive model is then used to carry out a regression analysis and to predict the resilient modulus of the four tested materials.
Sociological analysis of advertising reveals the currently operative body codes within a society, and more fundamentally, depicts the (ideal) relationships between men and women, between generations, ...and so on.
To demonstrate that sports advertising based largely on trichological stereotypes.
The idealised portrayal of human relations in advertisements (N=700) taken from French magazines was analysed by means of systematic coding and use of analytical software. This approach allowed characterisation of each advertisement in relation to the entire sample, with identification of significant elements (dominant colour, stature of models, setting, etc.), and determination of frequency of appearance and occurrence as well as testing of dependency relations.
There were significant differences in the portrayal of men and women in advertisements. In the 700 advertisements in the series we examined, male subjects very often had short hair (231 cases, 33%) or shaved heads (33 cases, 4.7%) while women were shown with long hair, either free (80 cases) or tied (73 cases). Women with short hair were rarely portrayed (4.3%), as were men with long hair (42 cases, 6%). Above all, with the exception of eyebrows and eyelashes, no other body hair was seen in male and female athletic figures in 238 advertisements, being visible in only 60 cases (8.6%). Facial stubble, and more particularly beards and moustaches, was fairly infrequent, despite the omnipresence of male models.
The majority of advertising situations involving sporting figures show clear stereotyping. Body hair is a pertinent pointer to understanding of contemporary sports models. A clear overall male/female distinction was present throughout. Men were presented in these adverts as active figures, leaders, etc. while women tended to be passive, spectators, and in some cases, admiring onlookers. A degree of confusion between genders was noticeable as a result of the shaving and depilation trends currently in vogue in the sporting world on aesthetic and practical grounds. The bodies portrayed were smooth and hairless, and somewhat removed from reality (i.e. the animal side of human beings).
The advertising domain tends to portray classical morphological and behavioural models rather than less conformist representations. Marketing communications depict ideal skins, with none of the commonly seen roughness, and more particularly none of the skin conditions (dermatoses, grazing, scars, etc.) so commonly seen in sports figures. The overall image conveyed is a far cry indeed from the actual epidemiological reality encountered by dermatologists!
This study examined the structure of psychopathic traits in 2 samples of children. The nonreferred community sample included 1,136 children recruited from elementary schools in 2 school districts in ...the southeastern United States. The clinic sample included 160 children referred to an outpatient mental health clinic serving the same geographic region. In both samples, parent and teacher ratings of psychopathic traits were subjected to a principal-axis factor analysis, and the congruence of the factor structure across samples was examined using confirmatory factor analysis. In both samples, 1 dimension that consisted of the callous and unemotional traits that have been hallmarks of most clinical descriptions of psychopathy was isolated. Two other dimensions consisting of narcissistic traits and impulsivity emerged in the community sample. Both the narcissism and impulsivity dimensions were highly related to symptoms of oppositional defiant disorder, conduct disorder, and attention deficit hyperactivity disorder. However, the callous and unemotional traits were only weakly associated with these symptoms after controlling for the other dimensions of psychopathy.
PDF
