Target agreed to pay banks $19 million for costs they incurred in the 2013 data breach that exposed the payment-card and personal information of tens of millions of customers.
MasterCard and Target are in talks about a settlement in which the retailer would pay banks about $20 million for costs they incurred in its 2013 data breach.
Does a blanket crime policy cover financial losses stemming from data breaches? It depends. Learn about mitigating risk with cyber liability insurance.
Willis calls 2011 the Year of the Breach, and says that while companies are rightfully concerned about their cyber exposures, they need to carefully examine their insurance coverages and risk-management strategies to ensure they are adequately prepared and protected.