The Centre for Risk Studies (CRS) provides frameworks for recognising, assessing and managing the impacts of systemic threats. The research programme is concerned with catastrophes and how their impacts ripple across an increasingly connected world with consequent effects on the international economy, financial markets, firms in the financial sectors and global corporations. To test our research outputs and guide our research agenda, the Centre engages with the business community, government policy makers, regulators and industry bodies.
As regards the impact of digital technology, the Cambridge Centre for Risk Studies has been playing a leading role in research into cyber catastrophe risk since its earliest publications in 2013.
The Centre’s approach includes developing an understanding of the cyber threat landscape resulting from different technological attack vectors, actors and motivations, and conceptualising potential scenarios of loss. The framework provides a method of assessing the economic and social impact of future cyber attacks. It also captures risk correlation structures and the potential for systemic cyber catastrophes to impact society, insurance companies, and national governments. This covers various mechanisms of cyber loss to the corporate ‘cyber’ economy.
