Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Share Post: Reddit Facebook
Global cyber attack could spur US$53bil in losses: Lloyd's of London
#1
[Image: ?w=620&h=413&crop=1&hash=FE540713A81ED28...A126E43523]

A major, global cyber attack could trigger economic losses on par with a catastrophic natural disaster, according to Lloyd's of London.

A major, global cyber attack could trigger an average of US$53bil (RM227.5bil) of economic losses, a figure on par with a catastrophic natural disaster such as US Superstorm Sandy in 2012, Lloyd's of London said in a report on July 17.

The report, co-written with risk-modeling firm Cyence, examined potential economic losses from the hypothetical hacking of a cloud service provider and cyber attacks on computer operating systems run by businesses worldwide.

Insurers are struggling to estimate their potential exposure to cyber-related losses amid mounting cyber risks and interest in cyber insurance. A lack of historical data on which insurers can base assumptions is a key challenge.

"Because cyber is virtual, it is such a difficult task to understand how it will accumulate in a big event," Lloyd's of London Chief Executive Inga Beale told Reuters.

Full Article
Reply


Possibly Related Threads…
Thread Author Replies Views Last Post
  Cyber attack forces live TV shows off-air on Australia’s Channel 9 mrtrout 0 946 04-01-2021 , 12:31 AM
Last Post: mrtrout
  Identity Fraud Losses Soared to $56 Billion in 2020, Javelin Researchers Find mrtrout 0 817 03-27-2021 , 03:53 AM
Last Post: mrtrout
  Another high-profile company has been hit with a cyber attack that’s causing a major Mohammad.Poorya 0 4,983 03-14-2021 , 05:21 AM
Last Post: Mohammad.Poorya
  Nottinghamshire schools suspend online learning following cyber attack Bjyda 0 1,035 03-05-2021 , 09:31 PM
Last Post: Bjyda
  Cyber Thieves Attack Renewable Energy Supplier to Steal Personal Info of 250,000 Cust mrtrout 0 1,152 12-20-2020 , 02:00 AM
Last Post: mrtrout

Forum Jump:


Users browsing this thread: 1 Guest(s)