Next global cyber attack could cost insurers $2.5 billion: Official

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Graeme Newman, chief innovation officer at U.K.-based specialty lines underwriter CFC Underwriting Ltd., said that the next global cyber attack could cost cyber insurers about $2.5 billion, Bloomberg reported. The cyber attack combining ransomware WannaCry’s wide reach and malware Petya’s destructive force could cost insurers a full year of gross premiums, Mr. Newman said.

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