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Catastrophic Cloud Attack Costs Would Rival that of Hurricane Damages

Cyber risk analytics firm Cyence and insurer Lloyd’s of London released a report on potential damages from cyberattacks. Worst-case scenario losses could potentially reach $53 billion in just a few days, the report says. The multi-billion dollar figure is on par with the damages of a major hurricane. Cybercrime landscape is very dynamic and generates copycats for popular and lucrative attacks, says CTO George Ng. Last year, property-casualty insurance companies wrote $1.35 billion in cyber insurance premiums, report notes.”]

Source: https://www.darkreading.com/cloud/catastrophic-cloud-attack-costs-would-rival-that-of-hurricane-damages

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