What trait does a global cyberattack and a hurricane share? Both could cost insurers – and victims – dearly, according to a report published Monday by insurance giant Lloyd’s of London.
A global, major attack on cloud computing services could cost an average of $53 billion, according to the report, which was co-written with Cyence, a firm that helps the insurance industry evaluate cyber-related risks.
Only 17 percent of those losses, however, would be covered by insurance.