The area of digital technologies is currently the subject of many cyber threats, the frequency of which is increasing. One of the areas of cyber security is also the creation of models and estimates of the process of cyber threats and their possible financial impacts. However, some studies show that cyber-threat assessment to identify potential financial impacts for organizations is a very challenging process. A relatively large problem here is the detection of scenarios of cyber threats and their expression in time. This paper focuses on the design of an algorithm that can be applied to the field of cyber-threat assessment in order to express the financial impacts. The study is based on an in-depth analysis of the insurance industry. The results obtained in our research show the importance of the time perspective for determining the potential financial impacts of cyber threats for the field of insurance.

In the last few years, we could see that a lot of world organizations are contested by different ways, which we are called as cyber threats or cyber risks. Many of organizations are well secured, but the most of them admitted that they are not able to successfully prevent these attacks and they tried to find other ways to mitigate the risk. This paper describes a possible approach to modeling the impact of selected cyber threats in the field of providing cyber-risk insurance. It compares predefined organizational parameters in relation to cyber threats scenarios. The main results include modeling the impact of selected cyber threats on the organization’s parameters. Based on these results, it is possible to quantify possible financial impacts and, on the basis of this, to propose an optimal amount of insurance cover.

The predictability of cyber threats is a major challenge in a dynamic digital world. One of possible approach to determine the financial impact of cyber threats is to identify vulner-able areas of the organization. However this area is primarily of interest to financial insti-tutions, many studies show us that this problem is very complex and involved. The es-sence of cyber threats are changed in time very dynamic, which can lead to a greater risk-iness of digital environment. The aim of this paper is to describe an algorithm through which it is possible to evaluate the areas of an organization that may be most vulnerable to the impacts of cyber threats. For this purpose was identified the most important areas in information environment. This paper is also focused on defining the correlation between cyber threats by their development over time from the point of view of the predictability of possible financial impacts. The proposed method was verified on organization, which was selected for our research.