The cyber liability insurance market is likely to morph in the near future as a result of the massive Equifax data breach, according to some industry executives.
It's too soon to tell just how many millions or even billions of dollars insurers may have to shell out as a result of this summer's Equifax breach, which the company says impacted 143 million people in the United States, Canada and the United Kingdom. But cybersecurity and insurance professionals say the impact from this event will be lasting.
Related: Data breaches in 2017: No relief in sight
|Historic cyber attack
Equifax revealed the cybersecurity breach on Thurs., Sept. 7, 2017. The company said it discovered the attack, in which hackers compromised a website application in order to gain access to private consumer information, in July 2017.
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Elana Ashanti Jefferson
Elana Ashanti Jefferson is ALM PropertyCasualty360's Editor in Chief. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].
