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International

Cyber attacks against energy sector could cost $2 billion by 2018

October 25, 2016 Reprints

A white paper “The Changing Global Energy Landscape – Opportunities and Challenges for Energy Underwriters” by Bahrain-based reinsurer Trust International Insurance & Reinsurance Company B.S.C. has said that cyber attacks against oil and gas infrastructure could cost an estimated $2 billion globally by 2018. Almost all policies issued so far by the upstream and downstream energy markets contain a cyber exclusion as underwriters are unable to assess and quantify cyber risk, Asia Insurance Review reported.

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Cyber attacks against energy sector could cost $2 billion by 2018

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