Single cyberattack on Asia-Pacific ports could cost $110bn, with 57% ‘silent’

Shanghai Yangshan deepwater port, Hangzhou Bay, China. Credit: iStock/fazon1

A single cyberattack on major ports across Asia-Pacific could cost $110bn, which is roughly equivalent to half of all losses from natural catastrophes globally in 2018, according to new research released by Lloyd’s. Under the extreme scenario, a huge 60% of the losses would be from business interruption and contingent business interruption (CBI) claims and 57% would be silent cyber…

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