Lights Out at Amazon

Lights Out at Amazon

Tuesday, 28 February, saw “high error rates” in multiple AWS services in the US’ eastern region. These began in the S3 service provided by the US-East-1 North Virginia site before spreading to other services hosted by US-East-1 including CloudWatch, EC2, Storage Gateway, and WAF (web application firewall). Disruptions to the S3 Service, which allows clientsRead more

Artificial Intelligence in the Not-So-Distant Future

Artificial Intelligence in the Not-So-Distant Future

  The motto of the Tyrell Corporation – the corporation responsible for android production in Ridley Scott’s 1982 classic Blade Runner – is “more human than human”. As autonomous systems become increasingly ubiquitous and permanent fixtures in modern societies, there is both concern and curiosity that our not-so-distant future resembles something out of a scienceRead more

NSA Cyber Weapon Stash for Sale

NSA Cyber Weapon Stash for Sale

Éireann Leverett Risk Researcher, Centre for Risk Studies, Judge Business School at University of Cambridge, and CEO, Concinnity Ltd. Dr. Andrew Coburn SVP, RMS, Inc., and Director of Advisory Board, Cambridge Centre for Risk Studies, Judge Business School On 13 August the ‘ShadowBrokers’, a previously unknown hacker group, posted an online auction of a setRead more

Analytics is Integral to Resilience and Sustainability

Analytics is Integral to Resilience and Sustainability

(Photo credit: David Baron, Flickr Creative Commons) As the United States looks toward the next four years of presidential decision-making and economic policy, the federal capital has played host to the ongoing discussion on finding solutions to both social and economic resilience and sustainability for the future. It was heartening to learn, in attending severalRead more

Is Regulation of Risk Culture the Missing Piece?

Is Regulation of Risk Culture the Missing Piece?

Greater use of civil and administrative sanctions will steer good corporate behaviour more effectively than prescribed risk culture as a regulatory tool divorced from business relevance, say Dr Michelle Tuveson and Professor Danny Ralph, Directors of the Cambridge Centre for Risk Studies. Their paper “Is Regulation of Risk Culture the Missing Piece? Civil Actions Reconsidered”Read more

Who Believes Forecasters?

Who Believes Forecasters?

Cassandra, the mythological Trojan, was given the power of prophecy but cursed with never being believed.  Modern forecasters generally suffer from the Cassandra predicament. Yet the appetite for prophecy has only expanded. As we enter the new year, it is as appealing now as it ever was to attempt to forecast how a variety ofRead more

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Paris attacks: assembling an economic analysis

Paris attacks: assembling an economic analysis

On 13 November, the city of Paris was attacked by a group of armed gunmen killing 130 people and injuring a further 389. The brutality and atrocity of this attack will have lingering emotional consequences for the people of Paris, France, The European Union and the world, as well as a direct impact on policy,Read more

The dragon stirs: RMB on track to squeeze dollar

The dragon stirs: RMB on track to squeeze dollar

The rise of the Chinese renminbi (RMB) and its increasing importance in cross-border trades has accelerated since the Great Financial Crisis hit the west in 2008-2009. Since then, the US economy has experienced a number of problems in the long-term such as: Unsustainable fiscal deficit; Lowering growth of GDP; Weakening of US Dollar against otherRead more

The Art of Financial Network Science, Part II

The Art of Financial Network Science, Part II

The second annual Financial Risk & Network Science seminar was held on September 9 at the University of Cambridge Judge Business School, in partnership between the Centre and Risk Journals. As with last year, there was a great display of varied and colourful financial network visualisations on show. Network diagrams present vast amounts of data inRead more

Where does cyber risk accumulate for insurers?

Where does cyber risk accumulate for insurers?

“Taxonomy is described sometimes as a science and sometimes as an art, but really it’s a battleground.” ― Bill Bryson, A Short History of Nearly Everything  After attending a cyber-risk accumulation workshop with a variety of cyber risk underwriters, I was moved to spend my morning walks thinking hard about cyber risk accumulation. Where doesRead more