Preprint Article Version 1 This version is not peer-reviewed

Analysing IoT Cyber Risk for Estimating IoT Cyber Insurance

Version 1 : Received: 7 March 2019 / Approved: 8 March 2019 / Online: 8 March 2019 (15:24:59 CET)

How to cite: Radanliev, P.; Mantilla Montalvo, R.; Nicolescu, R.; Huth, M.; Cannady, S.; De Roure, D. Analysing IoT Cyber Risk for Estimating IoT Cyber Insurance. Preprints 2019, 2019030110 (doi: 10.20944/preprints201903.0110.v1). Radanliev, P.; Mantilla Montalvo, R.; Nicolescu, R.; Huth, M.; Cannady, S.; De Roure, D. Analysing IoT Cyber Risk for Estimating IoT Cyber Insurance. Preprints 2019, 2019030110 (doi: 10.20944/preprints201903.0110.v1).

Abstract

This paper is focused on mapping the current evolution of Internet of Things (IoT) and its associated cyber risks for the Industry 4.0 (I4.0) sector. We report the results of a qualitative empirical study that correlates academic literature with 14 - I4.0 frameworks and initiatives. We apply the grounded theory approach to synthesise the findings from our literature review, to compare the cyber security frameworks and cyber security quantitative impact assessment models, with the world leading I4.0 technological trends. From the findings, we build a new impact assessment model of IoT cyber risk in Industry 4.0. We therefore advance the efforts of integrating standards and governance into Industry 4.0 and offer a better understanding of economics impact assessment models for I4.0.

Subject Areas

IoT Cyber Risk, IoT risk analysis, IoT cyber insurance, IoT MicroMort, Cyber Value-at-Risk

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