Cyberattack Costs Ontario City $18.3 Million After Insurance Claim Denied

Cyberattack Costs Ontario City $18.3 Million After Insurance Claim Denied

The City of Hamilton has spent $18.3 million responding to a cybersecurity attack that took place last year, which the city is now facing in full after its insurance provider has denied its claim. The city filed a cyber insurance claim. However, its insurance provider denied the claim citing policy exclusions, as multi-factor authentication had not been fully implemented by the city at the time of the incident, the city’s Cybersecurity Incident …