CyberNews Briefs

Insured losses from a cyber catastrophe could reach billions

New figures[pdf] released by Kovrr show that a “cyber catastrophe” involving a disruptive cyberattack on a UK email service provider could result in around $3.25 billion in losses to be covered by insurance companies.

Kovrr believes that insurance and reinsurance companies aren’t prepared for this scenario even though it is a realistic one. The firm is urging (re)insurance firms “to act now to make sure they are properly managing their cyber exposures before a cyber catastrophe happens.”

Read more: Insured losses from a cyber catastrophe could reach billions

OODA Analyst

OODA Analyst

OODA is comprised of a unique team of international experts capable of providing advanced intelligence and analysis, strategy and planning support, risk and threat management, training, decision support, crisis response, and security services to global corporations and governments.