4 Insurance Takeaways From Lloyd's Cyberattack Report

Law360, Los Angeles (July 13, 2015, 8:31 PM EDT) -- Insurance market Lloyd's of London recently co-wrote a report predicting that a major cyberattack on the East Coast could trigger $70 billion in insurance claims, highlighting potentially glaring deficiencies in traditional and cyber-specific policies. Here, Law360 examines the important takeaways for insurers and policyholders.

A Major Attack Would Affect a Wide Range of Policies

In the joint report, Lloyd's and the University of Cambridge Centre for Risk Studies laid out a hypothetical scenario where computer hackers infect electricity generator control rooms with malware, plunging 15 U.S. states into darkness and leaving 93 million people without power. According to the study, total...

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