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Cyber operational risk scenarios for insurance companies
- R. Egan, S. Cartagena, R. Mohamed, V. Gosrani, J. Grewal, M. Acharyya, A. Dee, R. Bajaj, V.-J. Jaeger, D. Katz, P. Meghen, M. Silley, S. Nasser-Probert, J. Pikinska, R. Rubin, K. Ang
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- Journal:
- British Actuarial Journal / Volume 24 / 2019
- Published online by Cambridge University Press:
- 19 February 2019, e6
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Cyber Operational Risk: Cyber risk is routinely cited as one of the most important sources of operational risks facing organisations today, in various publications and surveys. Further, in recent years, cyber risk has entered the public conscience through highly publicised events involving affected UK organisations such as TalkTalk, Morrisons and the NHS. Regulators and legislators are increasing their focus on this topic, with General Data Protection Regulation (“GDPR”) a notable example of this. Risk actuaries and other risk management professionals at insurance companies therefore need to have a robust assessment of the potential losses stemming from cyber risk that their organisations may face. They should be able to do this as part of an overall risk management framework and be able to demonstrate this to stakeholders such as regulators and shareholders. Given that cyber risks are still very much new territory for insurers and there is no commonly accepted practice, this paper describes a proposed framework in which to perform such an assessment. As part of this, we leverage two existing frameworks – the Chief Risk Officer (“CRO”) Forum cyber incident taxonomy, and the National Institute of Standards and Technology (“NIST”) framework – to describe the taxonomy of a cyber incident, and the relevant cyber security and risk mitigation items for the incident in question, respectively.Summary of Results: Three detailed scenarios have been investigated by the working party:
∙ Employee leaks data at a general (non-life) insurer: Internal attack through social engineering, causing large compensation costs and regulatory fines, driving a 1 in 200 loss of £210.5m (c. 2% of annual revenue).
∙ Cyber extortion at a life insurer: External attack through social engineering, causing large business interruption and reputational damage, driving a 1 in 200 loss of £179.5m (c. 6% of annual revenue).
∙ Motor insurer telematics device hack: External attack through software vulnerabilities, causing large remediation / device replacement costs, driving a 1 in 200 loss of £70.0m (c. 18% of annual revenue).
∙ While the presented scenarios are deemed material at this point in time, the threat landscape moves fast and could render specific narratives and calibrations obsolete within a short-time frame.
∙ There is a lack of historical data to base certain scenarios on and therefore a high level of subjectivity is used to calibrate them.
∙ No attempt has been made to make an allowance for seasonality of renewals (a cyber event coinciding with peak renewal season could exacerbate cost impacts)
∙ No consideration has been given to the impact of the event on the share price of the company.
∙ Correlation with other risk types has not been explicitly considered.
CHROMOSOME NUMBERS OF THE EDELWEISS, LEONTOPODIUM (ASTERACEAE, COMPOSITAE – GNAPHALIEAE)
- J. S. Stille, M. Jaeger, W. B. Dickoré, K. Ehlers, S. I. J. Holzhauer, E. Mayland-Quellhorst, S. Safer, S. Schwaiger, T. F. Stuessy, H. Stuppner, V. Wissemann
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- Journal:
- Edinburgh Journal of Botany / Volume 71 / Issue 1 / March 2014
- Published online by Cambridge University Press:
- 24 February 2014, pp. 23-33
- Print publication:
- March 2014
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The genus Leontopodium (Pers.) R.Br. (Asteraceae, Compositae) is economically important for both pharmaceutical and horticultural purposes. This importance, however, has not led to a good understanding of species coherence and the delimitation of species. One fundamental aspect of a good understanding of a species is how many chromosomes it has and any possible indication of polyploidy. Here we present somatic chromosome numbers for 16 Leontopodium species, of which six are new for science. The results indicate basic chromosome numbers of x = 6, 8, 9 and 11, with x = 8 being most frequent among the species examined. While obviously including several distantly related lineages, the x = 8 species have distributions that are concentrated in the centre of diversity of the genus in southwest China. We identified two ‘species-pairs’ (Leontopodium dedekensii–L. sinense and L. souliei–L. calocephalum) in which the tetraploid species has more vigorous growth, but is confined geographically to the centre of diversity. The diploid species ascend to generally higher elevations and extend more towards the Tibetan Plateau. In contrast, our data also suggest range expansions in other polyploid species, such as the hexaploid Leontopodium ochroleucum extending into the mountains of Central Asia. Deviations from x = 8 are found at the edges of the wide Eurasian distribution of the genus. These may relate to subsequent range expansions into the Himalayas, northern Asia, the Far East, and a far disjunctive expansion to the mountains of Europe. This implies an increased ability of these species to colonise mountain floras and adapt to different environmental conditions. Thus, formation of higher ploidy levels in general might be significant for a successful radiation process.
PREPARATION OF INSECT CONTACT CHEMOSENSILLA FOR SCANNING ELECTRON MICROSCOPY
- L. J. Dyer, W. D. Seabrook, V. A. Jaeger
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- Journal:
- The Canadian Entomologist / Volume 114 / Issue 10 / October 1982
- Published online by Cambridge University Press:
- 31 May 2012, pp. 891-896
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A protease digestion technique for preparing insect chemosensilla for observation at high magnifications under the Scanning Electron Microscope is described. Treatment with protease for 30 min or more followed by sonication removes material normally obscuring pores and surface grooves. This allows surface details and terminal valves to be seen under the SEM. The chemoreceptive hairs of insects can now be rapidly classified as having primarily a contact or olfactory function based on the presence or absence of visible terminal openings on some of the sensilla. Trypsin treatment was less useful, and neuraminidase had little effect. These results indicate that the material extruded onto the surface of the sensillum is proteinaceous.
Manipulation of Nanodiamond Clusters for Nanoscale Applications
- T. Tyler, A. Kvit, D. Jaeger, V. Zhirnov, J. Hren
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- Journal:
- Microscopy and Microanalysis / Volume 7 / Issue S2 / August 2001
- Published online by Cambridge University Press:
- 02 July 2020, pp. 390-391
- Print publication:
- August 2001
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One objective of the present work is to study the processes of assembly/self assembly of diamond clusters into nanostructures such as dots, wires,and filmsunder the influence of high electric fields. Diamond nanoparticles (∼2-5 nm in size) in a suspension of ethyl alcohol were deposited by pulsed electrophoresis onto sharp metal needles, such as those employed for field electron emission applications [1,2]. A custom designed sample holder has been constructed for a JEOL 2010 F, which allows for the convenient transfer of the sharp metal wires for analysis at high resolution, and then for removal (e.g. for re-deposition). These procedures allow us to precisely control the deposition thickness and morphology. They are capable of building a variety of deposition structures, even an isolated nanodiamond particle. The geometry of the deposits depends upon the applied voltage, the concentration of the suspension, the pulse duration, and the local electric field (which in turn depends on tip geometry, e.g. see Fig. 1).