Reuters: Major cyber attack could cost the world $3.5 trillion -Lloyd’s of London
LONDON (Reuters) – A major cyber attack on a financial services payments system could lead to global losses of $3.5 trillion, with much of it not covered by insurance, commercial insurance market Lloyd’s of London said on Wednesday.
The United States would suffer losses of $1.1 trillion over a five-year period from such an attack, which would cause widespread disruption to global business, according to a systemic risk scenario developed by Lloyd’s and the Cambridge Centre for Risk Studies. China would face $470 billion in losses and Japan $200 billion over the same period, Lloyd’s said.
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Update: Major Cyber Attack Could Cost Global Economy $3.5 Trillion: Lloyd’s (Insurance Journal)
WNU Editor: $3.5 trillion in losses ?!?!?!? That would be one hell of a cyber attack.