Major cyber attack could trigger losses of £40.5bn, says Lloyd’s

storm-warning

Lloyd’s research has warned that a major cyber attack could generate losses of £40.5bn ($53bn) – equivalent to those caused by Superstorm Sandy in 2012.

The report, Counting the cost: Cyber exposure decoded, developed with cyber risk analytics firm Cyence, revealed the potential economic impact of two scenarios: a malicious hack that takes down a cloud service provider with estimated losses of $53 billion, and attacks on computer operating systems run by a large number of businesses around the

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