Capital One $400mn tower now fully reserved in largest-ever cyber risk loss
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Capital One $400mn tower now fully reserved in largest-ever cyber risk loss

Catrin Shi
February 25, 2022
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Capital One Bank

The $400mn cyber programme for Capital One is now fully reserved as insurers expect a full-limit loss related to the bank’s 2019 data breach, this publication can reveal.

Sources described the legal costs relating to the breach as “astronomical” and said it was now all but certain the incident would result in a full $400mn payout.

They

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