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Grid Cyberattack Could Produce $1 Trillion in Damages

An extreme cyberintrusion could cost the U.S. power grid up to US$1 trillion, Lloyd’s of London and the University of Cambridge reported in May. “The Erebos Cyber Blackout Scenario is an extreme event and is not likely to occur,” Lloyd’s concedes. But the study was designed to “challenge assumptions of practitioners in the insurance industry and highlight issues that may need addressing” to prepare for the worst.

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