A major, global cyber attack could trigger an average of $53 billion of economic losses, a figure on par with a catastrophic natural disaster such as U.S. Superstorm Sandy in 2012, Lloyd’s of London said in a report on Monday. …
The European Union’s looming General Data Protection Regulation (GDPR) will require mandatory notification of serious data breaches and potentially massive fines for failure to comply. That’s the bad news. The good news is that the GDPR, to be rolled out …
Cyber crime insurers largely avoided costly claims from the recent attacks that hit business around the globe. The next global virus could change that. “It’s exceptionally likely that we will see an event over the next months that will seriously …
Global shipping is still feeling the effects of a cyber attack that hit A.P. Moller-Maersk two days ago, showing the scale of the damage a computer virus can unleash on the technology dependent and inter-connected industry. About 90 percent of …
Businesses could face a much higher bill than they expect or are prepared for after falling victim to a cyber-attack, according to research from Lloyd’s in association with KPMG and legal firm DAC Beachcroft. As businesses increasingly become the target …
A new cyber attack similar to WannaCry is spreading from Europe to the U.S., hitting port operators in New York and Rotterdam, disrupting government systems in Kiev, and disabling operations at companies including Rosneft PJSC and advertiser WPP Plc. More …
The same hacker targeting Canadian casinos and mining companies for extortion since 2013 is planning more attacks, researchers at cyber security company FireEye Inc said in a report on Friday. FireEye said it believes that a single hacker or hacking …
The tiny market for cyber insurance has been slower to develop than generally anticipated, a member of Allianz’s board said in an interview. The European market for cyber insurance currently has a premium volume of around 200 million euros ($224 …
When a wave of ransom-requesting cyber attacks hit computers across the globe earlier this month, Leonardo SpA cyber-security experts had already warned clients that a larger-than-usual strike was about to hit. Now, the company is set to roll out a …
A utility company in Lansing, Mich., is still transitioning back to stability after a cyberattack temporarily disabled the company’s internal network and required it to pay a $25,000 ransom. Dick Peffley, general manager for the Board of Water & Light, …
