Statistical Investigations of Data Breach Risks in the U.S. for Insurance Loss and Claims Data Analysis

To advance the management, understanding, and prediction of cyber insurance claims and cybersecurity risks, it is crucial to analyze data from past security breaches and develop statistical models tailored to predictive analysis. Despite growing attention to cybersecurity threats, many core challenges, particularly in the context of quantifying risks related to data breaches, remain underexplored. This proposed project adopts a data-driven approach to model key random variables that influence
the occurrence, size, and reporting of data breaches, focusing on their implications for insurance risk assessment. Additionally, the project aims to investigate company- and state-level factors that impact breach frequencies, providing critical insights for actuarial models and risk-pricing strategies in the cyber insurance domain.