Global Cyberattack Could Cause $53B Losses, Lloyd's Warns

Law360, London (July 17, 2017, 1:11 PM BST) -- A major global cyberattack could cause $53 billion of damage and pose a threat equivalent to a major hurricane, the world’s biggest speciality insurance market, Lloyd’s of London, warned on Monday.

Lloyd’s called on insurers to collect more data on the growing number of attacks, amid concerns that companies may be unaware of how exposed they would be if there was a major cyberstrike. European regulators fear this may be pushing some insurers to offer policies which they would be unable to pay out on in...
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