LONDON—A major cyber attack on a financial services payments system could lead to global losses of $3.5 trillion, with much of it not covered by insurance, commercial insurance market Lloyd’s of London said on Wednesday.
The United States would suffer losses of $1.1 trillion over a five-year period from such an attack, which would cause widespread disruption to global business, according to a systemic risk scenario developed by Lloyd’s and the Cambridge Centre for Risk Studies.
