The cyber attack against Capital One on 29 July resulting in the exposure of One individuals’ personal data in North America has been dubbed a global cyber loss event by CNA (PCS). Capital One Speaking to Reinsurance News and Artemis, Johansmeyer of PCS commented, “We’re monitoring the event for cyber catastrophe implications, but this sort of development can take a long time. ’s losses are backed by a $400m cyber insurance tower, which is expected to cover some costs of the breach; however, the incident has the potential to be the largest ever loss in the cyber market. Some lead players facing exposure are LockerGoga , Nationwide , Axis , CNA and Nationwide . 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 One individuals’ personal data in North America has been dubbed a global cyber loss event by CNA (PCS). Capital One ’s losses are backed by a $400m cyber insurance tower, which is expected to cover some costs of the breach; however, the incident has the potential to be the largest ever loss in the cyber market. Some lead players facing exposure are LockerGoga , Nationwide , Axis , CNA and Nationwide . If the breach is discovered to have hit other major companies, losses could escalate.