Marriott faces massive data breach expenses even with cybersecurity insurance

Marriott faces massive data breach expenses even with cybersecurity insurance

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Marriott’s total tab for a data breach affecting as many as 500 million consumers is going to cost billions of dollars over the next few years, based on the average cost of megabreaches.
Marriott’s disclosure of a data breach impacting as many as 500 million consumers is going to result in technology, security, and legal expenses for years to come — and the tab is likely to be in the billions of dollars.
The hotel company said that information on about 500 million guests may have been breached on its Starwood network since 2014. For about 327 million of those guests, personal information such as date of birth, gender, email, passport numbers, and phone numbers may have been exposed. In some cases, payment card information may have been exposed, but that data was encrypted. Read more…