A report prepared by University of Cambridge Centre for Risk Studies, on behalf of the Cyber Risk Management (CyRiM) project, in partnership with Lloyd’s, a cyber insurer. On Wednesday, a report backed by Lloyd’s of London stated, a cyber attack on Asian ports could cost a whopping $110 billion equivalent to half of the total…
As per Lloyd’s of London report, a hypothetical cyberattack could cause widespread damage ranging from $4.6 billion to $53 billion, with a significant portion of it being unrecoverable due to companies being underinsured. A report filed by Lloyd’s of London states that a major global cyberattack could trigger an average economic loss of $53 billion,…
While many pages have been written on the direct effect of cyberattacks, Lloyd’s report, prepared with inputs from KPMG and DAC Beachcroft, highlight the slowburn aspect of cyberattacks. On Wednesday, Lloyd’s of London has stated in a report that businesses in Europe have underestimated the “slow-burn” effects of cyberattacks. Business across the European Union need…
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