The Next Big Target For Cyberattacks: Energy Cos.

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Law360, New York (July 03, 2014, 10:58 AM ET) ‐‐ The international energy industry faces a significant and growing risk of a catastrophic cyberattack on its infrastructure. Before leaving office last year, Secretary of Defense Leon Panetta warned that a cyberattack "could be as destructive as the terrorist attack on 9/11. ... Imagine the impact an attack like that would have on your company or your business." Global broker Willis Group Holdings PLC recently concluded that "a major energy catastrophe — on the same scale as Piper Alpha, Phillips Pasadena or Deepwater Horizon — could indeed be caused by a cyberattack (whether politically motivated or not), and ... cover for such a loss is generally not currently provided by the energy insurance markets."

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