So how much damage could the next cyber attack cost the global economy? How’s the average number of $53billion sound.- PB/TK
Lloyd’s says cyber-attack could cost $120bn, same as Hurricane Katrina – By Julia Kollewe / July 17 2017
Lloyd’s of London has warned that a serious cyber-attack could cost the global economy more than $120bn (£92bn) – as much as catastrophic natural disasters such as Hurricanes Katrina and Sandy.
Published two months after a ransomware cyber-attack that hobbled NHS hospitals and hit nearly 100 countries, a 56-page report from the world’s oldest insurance market says the threat posed by such global attacks has spiralled and poses a huge risk to business and governments over the next decade.
The most likely scenario is a malicious hack that takes down a cloud service provider with estimated losses of $53bn, according to Lloyd’s. This is the average estimate, but because of the uncertainty around calculating cyber losses it estimates the figure could be as high as $121bn or as low as $15bn.
Continue to theguardian.com article: https://www.theguardian.com/business/2017/jul/17/lloyds-says-cyber-attack-could-cost-120bn-same-as-hurricane-katrina
