What do the U.S. Office of Personnel Management, Target, Anthem, Sony, P.F. Chang’s and the State Department have in common? It’s an easy question, if you have been paying attention. In recent months, each has been the subject of a cybersecurity attack or data breach.
We first covered the topic of cyber-risk insurance in a column published here two years ago.1 At the time, we wrote that news stories reporting the latest theft of credit card data, Social Security numbers and ATM codes had become more prevalent. Since then, however, the rate of data breaches and related disclosures has only increased and the organizations identified above, unfortunately, represent merely a few high-profile examples culled from an ever-growing list. In fact, if recent news reports are correct, we may soon be adding the Houston Astros to the list.
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