Revisiting Home Depot

Remember last September? It’s been just over a year since the Home Depot data breach. So far, the breach has cost Home Depot around $232 million and it’s expected to go into the BILLIONS as lawsuits get filed by smaller community banks and credit unions, who were hit hard with the aftershocks.

These lawsuits accuse Home Depot of ignoring warnings from security experts that its computer systems were vulnerable to attack, prior to the theft of approximately 56 million sets of credit and debit card data.

Home Depot did have cyber liability insurance, but only $100 million of the breach was covered.

Read more here at the Insurance Business of America website.