A cyber attack on Asian ports could cost as much as $110 billion, or half the to...
FILE PHOTO: A general view of Hongkong International Terminals , owned by Hutchison Port Holdings, as part of the Kwai Tsing Container Terminals for transporting shipping containers in Hong Kong, China July 25, 2018. REUTERS/Bobby Yip
Cyber insurance is seen as a growth market by insurance providers such as Lloyd’s, which specializes in covering commercial risks, although take-up in Europe and Asia remains far behind levels in the United States. The figure was calculated by simulating the impact of a computer virus carried by ships and which scrambles cargo database records at the ports.
Asia is home to nine of the world’s 10 busiest ports and is a crucial part of the supply chains for the world’s leading companies in sectors from autos to industrial goods, clothing and electronics.
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