Company To Launch Data Breach Insurance
DATA LOSS—AUSTRALIAApril 9, 2013
Australian Financial Review reports insurer Beazley Group plans to roll out data breach insurance in Australia at the end of this year. “There is certainly growing interest in this sector,” said Beazley Chief Executive Andrew Horton, noting data breach notification laws could get tougher. He added that data breaches happen in forms other than cyber threats, including when data is simply lost when a business moves from one location to another. The company launched the product in the U.S. five years ago and in the UK earlier this year.