Linfeng Zhang

University of Illinois, Urbana-Champaign | UIUC · Department of Mathematics

Cyber risk is an omnipresent risk in the increasingly digitized world that is known to be difficult to quantify and assess. Despite the fact that cyber risk shows distinct characteristics from conventional risks, most existing models for cyber risk in the insurance literature have been purely based on frequency-severity analysis, which was develope...

The repeated history of pandemics, such as SARS, H1N1, Ebola, Zika, and COVID-19, has shown that pandemic risk is inevitable. Extraordinary shortages of medical resources have been observed in many parts of the world. Some attributing factors include the lack of sufficient stockpiles and the lack of coordinated efforts to deploy existing resources...

Society's efforts to fight pandemics rely heavily on our ability to understand , model and predict the transmission dynamics of infectious diseases. Compartmental models are among the most commonly used mathematical tools to explain reported infections and deaths. This chapter offers a brief overview of basic compartment models as well as several a...

Numerous cyber incidents have shown that there are substantial legal risks associated with these events. However, empirical analysis of the legal aspects of cyber risk is largely missing in the existing literature. Based on a dataset of historical cyber incidents and cyber-related litigation cases, we provide one of the earliest quantitative studie...

The fact that “cyber risk” is indeed a collective term for various distinct risks creates great difficulty in communications. For example, policyholders of “cyber insurance” contracts often have a limited or inaccurate understanding about the coverage that they have. To address this issue, we propose a cyber risk categorization method using cluster...

Repeated history of pandemics, such as SARS, H1N1, Ebola, Zika, and COVID-19, has shown that pandemic risk is inevitable. Extraordinary shortages of medical resources have been observed in many parts of the world. Some attributing factors include the lack of sufficient stockpiles and the lack of coordinated efforts to deploy existing resources to t...

While advances in information technology and interconnectivity have improved efficiency for transportation infrastructure, they have also created higher risk associated with cyber systems. The objective of this study is to inform transportation policy and management in the U.S. by identifying barriers to a robust cyber insurance market and improved...

Effective cyber risk management should include the use of insurance not only to transfer cyber risk but also to provide incentives for insured enterprises to invest in cyber self-protection. Research indicates that asymmetric information, correlated loss, and interdependent security issues make this difficult if insurers cannot monitor the cybersec...