Insurance for cybersecurity is becoming more and more popular following high-profile cyberattacks. Does your company require it?
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Because cybersecurity attacks can be expensive, some people decide to buy additional insurance. On the other hand, some experts argue that stopping a breach is more crucial than purchasing a new policy.
or numerous executive directors—it’s a terrible situation.
Attackers using ransomware broke into the Toronto Public Library’s systems in late October, taking with them the social security numbers, names, and probably copies of official identification documents belonging to both current and former employees.
The attackers then demanded money from the library in order to recover the data.
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The company that created the largest library network in Canada has been holding off on paying the ransom for over a month. However, there have been additional expenses associated with the incident.
specialists in cybersecurity to handle the hack, employee credit monitoring whose data might soon be available on the dark web, as well as staff time needed to address the issue.
The library released a statement saying, “It has been a very challenging time, and we are deeply sorry for the concern it has caused.”
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