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Lloyd’s Says a Big Cyberattack Could Cost Economy $3.5T

Lloyd’s and the Cambridge Center for Risk Studies researchers have estimated the potential cost to the global economy from a cyber attack on financial services payments infrastructure over five years. So reports Insurance Journal.

dollar 3706548 640 smallLloyd’s said that it would only cover a fraction of such costs, with gross written premiums for cyber insurance projected to be only $13 billion to $25 billion by 2025.

Among countries, the United States could expect the biggest economic loss: $1.1 trillion over five years, according to Lloyd’s.

Read the full article from Insurance Journal.

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