Problem Analysis of Traditional IT-Security Risk Assessment Methods - An Experience Report from the Insurance and Auditing Domain

@inproceedings{Taubenberger2011ProblemAO,
  title={Problem Analysis of Traditional IT-Security Risk Assessment Methods - An Experience Report from the Insurance and Auditing Domain},
  author={Stefan Taubenberger and Jan J{\"u}rjens and Y. Yu and Bashar Nuseibeh},
  booktitle={SEC},
  year={2011}
}
Traditional information technology (IT) security risk assessment approaches are based on an analysis of events, probabilities and impacts. In practice, security experts often find it difficult to determine IT risks reliably with precision. In this paper, we review the risk determination steps of traditional risk assessment approaches and report on our experience of using such approaches. Our experience is based on performing IT audits and IT business insurance cover assessments within a… 
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The case for new methodologies to assess risk in this context which consider the dynamics and uniqueness of IoT, but also the rigour of best practice in risk assessment is made.
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