Industry Massively Underinsured Against Global Cyber Attacks

Industry is massively underinsured against a major global cyberattack — which could trigger losses on a par with natural disasters such as Hurricane Sandy, according to the results of a new study by Lloyds of London and risk modeling firm Cyence. The firms project that a major attack on the cloud infrastructure could result in losses ranging from $4.6 billion to $53.1 billion.