Cyber Attack On Northeastern U.S. Power Grid Could Cost Insurers $70B

 Friday, July 17, 2015

 Live Insurance News

Lloyds of London has now released a new report that has shown that if the Northeast U.S. power grid were to fall victim to a cyber attack, the insurance losses would be tremendous and far-reaching. Beyond financial disruptions, there would also be issues with water supply and transportation. The insurance losses were predicted to be over $70 billion. This, above and beyond the millions of people across the country who would be left without power. This “Business Blackout” report from Lloyds and the Center for Risk Studies at the University of Cambridge looked into the chilling impact on the economy and the insurance industry if a major cyber attack should occur, such as on the American power grid.
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