Tag: us power grid

American utilities are looking into cyber insurance following Ukraine grid attacks

G. Turner
auto insurance losses power grid electricity blackout electric car

Following the December 23 attack on the Ukrainian grid, the U.S. is taking a closer look at protection. American utilities are currently looking into the types of cyber insurance that might be available to them, in order to protect themselves against what could potentially result in multi-billion dollar losses if an attack similar to the one that struck Ukraine on December 23 were to happen in the U.S. Last year, hackers caused power outages that left over 80,000 people in the country in the dark. The incident in Ukraine was…

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Insurance losses could be as high as $70 billion in the US from one peril

Julie Campbell
auto insurance losses power grid electricity blackout electric car

According to a report from Lloyds, if the power grid in the United States were to be attacked the cost would be massive. Lloyds of London has now released a new report that has shown that if the Northeast U.S. power grid were to fall victim to a cyber attack, the insurance losses would be tremendous and far-reaching. The economic losses that would occur from such an event could actually reach a trillion dollars. Beyond financial disruptions, there would also be issues with water supply and transportation. The insurance losses…

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