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Silently preparing for the $100 billion cyber-catastrophe risk

news alert

London, UK - 16 February 2004, 10:30 GMT - The mi2g Intelligence Unit has learnt that chief executives and board-level decision makers within S&P 500 and FTSE-100 component companies are seriously evaluating the possibility of taking out insurance against a $100 billion global cyber catastrophe risk event for their worldwide operations that could cause massive business interruption for days and lead to insurmountable property and liability, breach of contract and workers' compensation claims alongside the potential for serious intellectual property theft and online financial fraud.

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