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Last updated on Monday, November 10, 2014, 1:29 pm

Data Breach: Cyber Liability Insurance on The Rise as Hacks Escalate

The United States is under cyber attack. From hospitals to retailers to restaurants, hackers, primarily based in Eastern Europe and Asia, are breaking into computer networks and stealing social security and phone numbers, credit card accounts, names, usernames, passwords and email addresses. Home of the world’s largest economy, the United States also endures the largest number of attacks and yields the highest number of stolen records, according to industry reports. While government, education and health care are targets, the gold mine is the business sector with its trove of cash registers and customer profiles. The annual global financial loss from cybercrime, as estimated by renowned security technology firm McAfee, ranges from $375 billion to $575 billion, and current research indicates... [ MORE ]

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