LLoyds of London has issued a joint report with CyberCube outlining the prevalent risks to Industrial Control Systems. The report considers four key industries dependent upon ICS (Manufacturing, Shipping, Energy and Transportation) and assesses precedents and the potential impact on each.
The potential for physical perils represents a major turning point for the broader cyber (re)insurance ecosystem. This risk has previously been considered unlikely to materially impact the market, with cyber perils traditionally emerging in the form of non-physical losses.
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