Search
 

The 10 most expensive data breaches to date

The average cost of a data breach hit $5.9 million in 2014, up 9% from the previous year. How much have insurers lost?

By Lori Widmer | Updated on September 23, 2015

EDITOR’S NOTE: In response to the heightened awareness of cyber risk, companies are developing benchmarks and establishing best practices. Risk managers, along with IT professionals and others, are creating successful programs to keep their organizations safe from cyber threats, meeting their critical responsibility. To celebrate the successes of cyber security savvy risk managers, National Underwriter is searching for candidates whose programs are worthy of recognition with our inaugural Excellence in Cyber Security Risk Management Award. To nominate your program, fill out an application, including a company profile, which will be kept confidential. Submissions must be received by Oct. 9, 2015, to be considered.

2014 might be remembered as the year of compromise. According to data publishing platform Silk, nearly 290.5 million records were compromised in the top 11 breaches of all time. With a record 783 breaches last year, according to the Identity Theft Resource Center and Identity Theft 911, breach totals are 27.5% higher than in 2013.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.