The threat of cyber attack reaches every part of modern society, and insurance could have an important role to play in helping organisations to manage their cyber risk exposure. However, there is a significant level of uncertainty attached to the impact of severe events. Lloyd’s has published a research report that aims to contribute to the knowledge base required to develop the next generation of insurance solutions for the digital age.
The research estimates the economic and insurance impacts of a severe, yet plausible, cyber attack against the US power grid. While the analysis focuses on the USA, we believe that it provides a framework for thinking about severe cyber attacks anywhere in the world.
