TL;DR
- Kovrr’s new Materiality Analysis feature, found within our on-demand cyber risk quantification (CRQ) platform, helps organizations determine material cyber risks and events by evaluating data-driven thresholds for financial losses, data record compression amounts, and outage durations.
- First, the new feature offer highlights the Financial Loss Exceedance curve, which showcases the likelihood of financial damages surpassing specific thresholds (0.01%, 0.1%, 1%, and 2% of annual revenue) should an event occur. These insights aid in understanding potential financial impacts and support strategic planning for disclosures.
- Next, the Number of Data Records Compromised Exceedance curve shows the probability of exceeding data record compromise thresholds (1%, 2%, 5%, and 10%) in the case of data theft.
- The third exceedance curve illustrates the likelihood of various outage times being surpassed should the organization experience an event that causes systems to go down. The given thresholds are 8, 12, 24, and 48 hours, which are based on commonly used cybersecurity insurance waiting periods.
- Within the Cyber Materiality Analysis feature, users can also explore…
