Wall Street Analyst Expects $200 Million Cyber Insurance Coverage for MGM Resorts
JMP Securities gaming analyst Jordan Bender reportedly estimates that the the losses recently incurred to MGM Resorts International by a September 11 cyberattack could be covered by a $200 million cyber insurance policy. As reported, Wall Street analyst considers the coverage sufficient to remedy business interruption in eight states and service the pending ransom payment.
Ransom Money Could Start From $30 Million:
Though the company has not acknowledged its intentions regarding such a payment, the Nevada Independent reports that Jordan Bender used the JMP Securities insurance technology team’s calculation to assess that the cost of a prospective ransom payment to the hackers could amount between $30 million and $50 million. Also, the amount o…