A coordinated global cyber attack, spread through malicious email, could cause economic damages anywhere between $85 billion and $193 billion, a hypothetical scenario developed as a stress test for risk management showed.
Total claims paid by the insurance sector in this scenario is estimated to be between $10 billion and $27 billion, based on policy limits ranging from $500,000 to $200 million.
The stark difference between insured and economic loss estimates highlights the extent of under-insurance, in case of such an attack, the stress test showed. An attack could affect several sectors globally, with the largest losses in retail, healthcare, manufacturing and banking fields.
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