The economic cost of the Mydoom email virus has been estimated at US$26.1bn so far, revealed a report.

The Mydoom virus, the fastest spreading virus known so far, has claimed its first corporate scalp, US software company SCO.

The report said Mydoom had left thousands of computers vulnerable to hackers by opening up security holes in computer systems.

SCO said the virus was "overwhelming the internet" with requests for its website. According to the report, experts said the Mydoom virus accounted for 30% of all email traffic at its peak.

A variant of the Mydoom virus is expected to attack Microsoft's website from Tuesday. The original version of the virus will become inactive on 12 February.

The virus, also known as Novarg or Shimgapi, emerged last Monday as a spam email message with the virus disguised within it.

Both SCO and Microsoft have offered rewards of $250,000 each for help to catch the creator of the email worm, revealed the report.

The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.