Tag: cyber costs

Target Sues Insurer for Up to $74M in 2013 Data Breach Costs

Online internet secure payment and network safe communication and banking concept. Person pay in web via computer. Locks and padlocks on diagram.

Target is suing its longtime insurance company for denying claims to reimburse Target for tens of millions of dollars it has paid out for new payment cards as part of settlements over the retailer’s 2013 data breach. The lawsuit against ACE American Insurance Co., based in Pennsylvania and now part of the Chubb Corp., was… Continue reading Target Sues Insurer for Up to $74M in 2013 Data Breach Costs

IBM Study Shows Data Breach Costs on the Rise; Financial Impact Felt for Years

BEC attacks

Security today announced the results of its annual study examining the financial impact of data breaches on organizations. According to the report, the cost of a data breach has risen 12% over the past 5 years1 and now costs $3.92 million on average. These rising expenses are representative of the multiyear financial impact of breaches,… Continue reading IBM Study Shows Data Breach Costs on the Rise; Financial Impact Felt for Years