Catastrophic cyber event could cause widespread disruptions to global infrastructure, study suggests

CyberCube and Munich Re conducted a study, based on a survey of 93 leading cyber-risk executives, in part to address concerns about how the insurance industry can properly model catastrophic cyber-risk events. Given that global industries are increasingly interconnected and increasingly dependent on cloud security, a mass computer infection or a disruption of a major service could have serious consequences. 

“The objective was to advance overall market understanding,” Stephan Brunner, senior cyber actuary at Munich Re, said via email. “The insights help shape a more nuanced view of how such systemic cyber events might unfold and the factors that drive wide variation in risk exposure across firms.”

The WannaCry and NotPetya events nearly a decade ago illustrated the consequences of mass infections, crippling thousands of computers around the world and disrupting important businesses like FedEx and Maersk.

Read more at Cybersecurity Dive