Insurance Occurrence Assurance?
JULY 26, 2018
Though the breaches are concerning, the real story is that the financial institution suing its insurance provider for refusing to fully cover the losses. From the article: In its lawsuit (PDF), National Bank says it had an insurance policy with Everest National Insurance Company for two types of coverage or “riders” to protect it against cybercrime losses. This, unfortunately, is the nature of insurance.
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