Reputational Risks

Kimberly Redmond | |

The economic fallout from a significant cyberattack in the US could be worse than the damages caused by a major natural disaster, according to a newly-released study.

Published Monday by the Foundation for Defense of Democracies (FDD) and insurance technology firm Intangic, the report found that the indirect effects of a breach, which include damage to a company’s reputation and its ability to attract investors and creditors, are more costly in the long term than the effects of property damage from extreme weather events.