WATCH NOW: Webinar: Cyber Insurance and the Case of Ransomware

Cyber Insurance webinar

 

When people think of business insurance, they typically think of coverage for things like property damage, lawsuits and lost income. But as technology evolves, so do hackers with the ability to wreak havoc on companies in a matter of keystrokes. In response to this growing threat, cyber insurance was created, with ransomware as one of its newest sub-categories. Until now, the central focus of cyber insurance has been risk management through risk transfer.

During this free webinar, Dr. Liu discusses years of research on shifting the focus from this conventional view to one of risk control and reduction by looking for ways to re-align the incentives of parties involved in an insurance contract and exploiting the unique properties of cyber risk. She shares parallels between ransomware attacks and centuries-old crimes and highlight takeaway lessons.

 

About the Speaker: 

Mingyan Liu
Dr. Mingyan Liu

Mingyan Liu is the Peter and Evelyn Fuss Chair of Electrical and Computer Engineering and a Professor of Electrical Engineering and Computer Science at the University of Michigan. She received her Ph.D. Degree in Electrical Engineering from the University of Maryland, College Park, in 2000, and has been with University of Michigan, Ann Arbor, ever since.  Her research interests are in optimal resource allocation, sequential decision theory, incentive design, and performance modeling and analysis, all within the context of large-scale networked systems.  Her most recent research activities involve cyber risk quantification and designing cybersecurity incentive mechanisms using large-scale Internet measurement data and machine learning techniques.  She is the recipient of the 2002 NSF CAREER Award, the University of Michigan Elizabeth C. Crosby Research Award in 2003 and 2014, the 2010 EECS Department Outstanding Achievement Award, the 2015 College of Engineering Excellence in Education Award, the 2017 College of Engineering Excellence in Service Award, and the 2018 Distinguished University Innovator Award.  She is a Fellow of the IEEE and a member of the ACM.

Embracing Risk book cover

Dr. Liu is also the author of Embracing Risk: Cyber Insurance as an Incentive Mechanism for Cybersecurity. The book is an introduction to cyber insurance with the goal of shifting away from the conventional view of using insurance as primarily a risk management mechanism to one of risk control and reduction by re-aligning the incentives