The $120bn threat: Cyber-attack could cost the global economy as much as Hurricane Katrina

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A serious cyber attack could cost the global as much as natural disasters like Hurricanes Sandy and Katrina, according to Lloyd’s of London. In a report published on Monday (17 July), the world’s oldest insurance market warned that the most likely scenario would see a cyber attack launched on a cloud service provider, which would result in losses of approximately $53bn (£40.5bn).

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