The cyber attack against Capital One on 29 July resulting in the exposure of 106 million individuals ’ personal data in North America has been dubbed a global cyber security event by Property Claim Services ( UK ) . Capital One ’s losses are backed by a $ 400 m ##ln insurance tower , which is expected to cover some costs of the breach ; however , the breach has the potential to be the largest ever loss in the cyber market . Some lead companies facing exposure are AIG , Axis , Chubb , CNA and Nationwide . “Even the possibility of a cyber cat highlights the importance of new sources of capital to supporting both the affirmative cyber sector and the risks associated with cyber ad a peril. If the breach is discovered to have hit other major companies , losses could escalate .
The cyber attack against Capital One on 29 July resulting in the exposure of 106 million individuals ’ personal data in North America has been dubbed a global cyber security event by Property Claim Services ( UK ) . Capital One ’s losses are backed by a $ 400 m ##ln insurance tower , which is expected to cover some costs of the breach ; however , the breach has the potential to be the largest ever loss in the cyber market . Some lead companies facing exposure are AIG , Axis , Chubb , CNA and Nationwide . If the breach is discovered to have hit other major companies , losses could escalate .