The cyber liability insurance market is likely tomorph in the near future as a result of the massive Equifax databreach, according to some industry executives.

It's too soon to tell just how many millions or even billions ofdollars insurers may have to shell out as a result of this summer'sEquifax breach, which the company says impacted 143 million peoplein the United States, Canada and the United Kingdom. Butcybersecurity and insurance professionals say the impact from thisevent will be lasting.

Historic cyber attack

Equifax revealed the cybersecurity breach on Thurs., Sept. 7,2017
. The company said it discovered the attack, in whichhackers compromised a website application in order to gain accessto private consumer information, in July 2017.

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Elana Ashanti Jefferson

Elana Ashanti Jefferson serves as ALM's PropertyCasualty360 Group Chief Editor. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].