Lloyd's: Cyber-Attack on US Northeast Power Could Cost $1Trillion

July 9 - A cyber-attack on 50 power generation plants in the Northeast United States would not only harm millions of people but could cost the economy between $243 billion and $1 trillion in damages from the resulting power outages, said insurance firm Lloyd's and the University of Cambridge's Centre for Risk Studies.

A report entitled "Business Blackout" issued by the two organizations detailed a scenario in which cyber-attackers hacked, infiltrated and disabled only 7 percent of the 676 power generators feeding the grid of the 15 states of the northeast United States, a scenario the report called "improbable, but technologically possible."