Modeling Privacy Insurance Contracts and Their Utilization in Risk Management for ICT Firms

Authors:
Athanassios N. Yannacopoulos;Costas Lambrinoudakis;Stefanos Gritzalis;Stylianos Z. Xanthopoulos;Sokratis N. Katsikas
Affiliations:
Dept. of Statistics, Athens University of Economics and Business,;Dept. of Information and Communication Systems Engineering, University of the Aegean,;Dept. of Information and Communication Systems Engineering, University of the Aegean,;Dept. of Statistics and Actuarial-Financial Mathematics, University of the Aegean,;Dept. of Technology Education and Digital Systems, University of Piraeus,
Venue:
ESORICS '08 Proceedings of the 13th European Symposium on Research in Computer Security: Computer Security
Year:
2008

Citing 11
Cited 1

Markets and privacy

Communications of the ACM
Information privacy: measuring individuals' concerns about organizational practices

MIS Quarterly
Consumer privacy concerns about Internet marketing

Communications of the ACM
Building consumer trust online

Communications of the ACM
Privacy in e-commerce: examining user scenarios and privacy preferences

Proceedings of the 1st ACM conference on Electronic commerce
E-privacy in 2nd generation E-commerce: privacy preferences versus actual behavior

Proceedings of the 3rd ACM conference on Electronic Commerce
Information Privacy: Corporate Management and National Regulation

Organization Science
Privacy and Rationality in Individual Decision Making

IEEE Security and Privacy
Personalization versus Privacy: An Empirical Examination of the Online Consumer's Dilemma

Information Technology and Management
A probabilistic model for optimal insurance contracts against security risks and privacy violation in IT outsourcing environments

International Journal of Information Security
Internet Privacy: Interpreting Key Issues

Information Resources Management Journal

A Composite Privacy Leakage Indicator

Wireless Personal Communications: An International Journal

Quantified Score

Hi-index	0.02

Visualization

Abstract

The rapid expansion of Internet based services has created opportunities for ICT firms to collect and use, in an unauthorized way, information about individuals (e.g. customers, partners, employees etc.). Therefore, privacy issues are becoming increasingly important. In this paper we model the risk that an IT firm is exposed to, as a result of potential privacy violation incidents. The proposed model is based on random utility modeling and aims at capturing the subjective nature of the question: "how important is a privacy violation incident to someone?". Furthermore, we propose a collective risk model for the economic exposure of the firm due to privacy violation. These models are useful for the design and valuation of optimal privacy related insurance contracts for the firm and are supportive to its risk management process.