A global cyberattack is to be dreaded

A global cyberattack could cause between 85 and 193 billion USD of losses for companies estimates a report published by the Lloyd's and the broker Aon.

According to a hypothetical scenario, the cost of this attack would be 19 times higher than that of Notpetya in June 2017 which was estimated at 10 billion USD.

The damages would also be equivalent to those caused by Cyclone Harvey which amounted to 85 billion USD of economic losses and 30 billionUSD of insured losses, according to Munich Re.

The impact of such an event on insurers could then range between 10.2 and 27.3 billion USD. However, these figures are higher than the overall cyber premiums collected worldwide, valued in 2019 at 6.4 billion USD. Insurers will, thus, support a limited portion of the damages only, between 9% and 14%.