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Apr 2016 Panama Papers, digital data, which spread confidential information of more than 210 000 offshore companies, politicians, businessmen and celebrities from around the globe, is likely to cost insurance and reinsurance companies very dearly.
Several natural and legal persons affected by the scandal have underwritten insurance against the risk of damage to reputation.
Lloyd's syndicates have been called to simulate disaster scenarios after this cyber loss.
Different experts believe that it is time for insurers to comb through the portfolio's contracts in order to determine the cost of potential compensation.