Cloud failure and cyber insurance: stress scenarios and diversification
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摘要
The paper develops a portfolio-level framework to model cloud interruption and measure diversification in cyber insurance, distinguishing standard and systemic regimes, and proposing an optimization to balance profitability with resilience to accumulation shocks. It formalizes a loss timeline, derives macro-level risk measures (mean, VaR, CTE) under Gaussian asymptotics, and provides underwriting guidelines to reduce exposure to cloud-outage scenarios. A numerical illustration with five providers shows how aggregate exposures should be allocated to maintain mutualization in ordinary conditions while limiting concentration under stress [page::0][page::4].
