US companies have suffered numerous high-profile attacks in the past couple of years, from Sony Entertainment to Target. Even the government has been victimized more than once, most recently losing credit card data.
It comes as no surprise, then, that insurance companies are raising rates commensurate with the new risk. According to Reuters, insurance companies are not just raising regular rates, but also deductibles, as well as limiting damages to $100 million in some cases.
Depending on their nature, data leaks can easily cost more than $100 million to repair – from compensating customers to upgrading infrastructure. Depending on contract situations, data leaks can [...]