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The warning comes in the wake of the WannaCry ransomware attack last week that brought the NHS to a standstill and infected the systems of Nissan, O2 owner Telefonica, FedEx and others. The
attack is believed to have shut down 200,000 devices in 150 countries. Although it was eventually foiled, the number of cyber attacks is increasing. Given how deeply integrated computers
are into building and modern infrastructure, Tom Harvey, product manager at catastrophe risk consultants RMS, warned that one day hackers could use their skills to cause physical damage to
buildings or cripple facilities, instead of just stealing data. He said: “Most cyber attacks are unsuccessful, but there has been a sharp increase in the number of ransom attacks being
carried out over the last two years. “Their culture is extortion and using ransomware for cyber attacks. Instead of damaging buildings, they have been stopping people doing business, but we
know a cyber attack on a Germany steel mill caused an explosion. They have not been combined with a physical one yet, but there is no reason why they won’t.” INTERNET OF THINGS: CYBER
CRIME ON THE RISE GETTY The NHS was brought to its knees last week after a WannaCry ransomware attack Speciality insurance market Lloyd’s of London believes that the WannaCry attack, as well
as incoming European data regulations that specify how a firm has to respond to a breach, will drive increased demand for insurance cover. Last year Lloyd’s introduced 15 different types of
policies. Globally, $2.5billion (£1.9billion) of gross written premiums were specifically related to cyber insurance in 2016 and Lloyd’s expects that to rise to $25billion by 2025.