  The paper provides a comprehensive overview of modeling and pricing cyber
insurance and includes clear and easily understandable explanations of the
underlying mathematical concepts. We distinguish three main types of cyber
risks: idiosyncratic, systematic, and systemic cyber risks. While for
idiosyncratic and systematic cyber risks, classical actuarial and financial
mathematics appear to be well-suited, systemic cyber risks require more
sophisticated approaches that capture both network and strategic interactions.
In the context of pricing cyber insurance policies, issues of interdependence
arise for both systematic and systemic cyber risks; classical actuarial
valuation needs to be extended to include more complex methods, such as
concepts of risk-neutral valuation and (set-valued) monetary risk measures.
