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Cybersecurity, insurance execs see opportunity in Equifax data breach

It's too soon to tell just how many millions or even billions of dollars insurers may have to shell out as a result of this summers Equifax breach, but cybersecurity and insurance professionals say the impact from this event will be lasting.

By Elana Ashanti Jefferson | Updated on September 14, 2017
The Equifax breach is a chance for agents and brokers to illustrate just how catastrophic a cyber breach can be for business. (Photo: Shutterstock)

The cyber liability insurance market is likely to morph in the near future as a result of the massive Equifax data breach, according to some industry executives.

It’s too soon to tell just how many millions or even billions of dollars insurers may have to shell out as a result of this summer’s Equifax breach, which the company says impacted 143 million people in the United States, Canada and the United Kingdom. But cybersecurity and insurance professionals say the impact from this event will be lasting.

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