Cyber-attacks, an increasingly tangible threat

According to a study conducted by Lloyd's, the economic damage of a major cyber attack could amount to 121.4 billion USD. The premiums collected for this type of risk would represent only one-fifth of this amount.

Another example, the same study points out that a major attack on the cloud-computing platforms could cause about 53 billion USD in economic losses, as much as Hurricane Sandy which hit the United States in 2012.

The upsurge in "ransomware" attacks like WannaCry or Petya should encourage companies to get covered against this type of risk.

According to some sources, the e-risk market generates currently 3.5 billion USD in premiums per year. This figure is expected to double by 2020 at 7.5 billion USD.

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