Lloyds of London estimates a global cyber attack will result in damages similar to hurricane Sandy, or $53 billion in economic losses from a global hacking of cloud services.
How do the $53 Billion oin costs break down?
-
Average economic losses $4.6 billion to $53 billion
-
Actual losses could be as high as $121 billion
-
$45 billion of that sum may not be covered by cyber policies, because
-
companies are underinsuring
-
-
If operating systems are hacked, average losses range from $9.7 billion to $28.7 billion.
How is Texas regulating the cyberinsurance market?