Counting the cost – cyber exposure decoded
This report by Lloyd’s is designed for insurers and risk managers and aims to increase understanding of cyber risks, sources of digital vulnerabilities, cyber insurance cover and cyber risk aggregation.
The report uses two scenarios, a cloud service provider hack and a mass vulnerability attack, to provide readers with an indication of the potential losses that could be suffered and to highlight the various damages that can occur as a result of cyber-attacks. The common elements of cyber cover are outlined, including security and privacy liability, data breach costs, network business interruption, regulatory action costs, extortion and digital asset replacement.
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