Cyberattack Comparable to Worst Natural Disasters

Cyberattack Comparable to Worst Natural Disasters

With recent cyber crimes targeting various institutions, the impact of cyberattacks on the global economy has not been ignored. According to the Financial Times as well as other sources, leading insurance market Lloyd’s of London estimated that a global cyberattack could cost as much as $121 billion, higher than the $108 billion worth of damages resulting from Hurricane Katrina, one of the deadliest natural disasters in the history of the United States.

In response to a ransomware attack on NHS hospitals, Lloyd’s published a 56-page report on the exponential threat of global cyberattacks on governments and businesses. The two most imminent cases include an attack that undermines a cloud service provider and an attack on computer operating systems used by businesses around the world. The majority of the losses are uninsured, leaving financial services, software and technology, hospitality, retail, and healthcare as the most vulnerable industries.

Effectively preventing or responding to a large-scale cyberattack requires around-the-clock network monitoring and recording with timely alerts. With Quantea’s QP Series appliance solution, organizations across the globe will be able to easily target and dissect network and user anomalies, halting cyber threats and saving our economic infrastructure before it’s too late.   

Cyberattack Comparable to Worst Natural Disasters