In the wake of its massive data breach, Anthem may have a substantial safety net in the form of cyber coverage from insurers. According to a recent report in Business Insurance, Anthem has $150 million to $200 million in cyber insurance, including excess layers of cyber coverage, insurance market sources told the publication.
Anthem’s primary cyber insurer is Lexington Insurance Co., a unit of American International Group (AIG), Business Insurance revealed, explaining that Anthem has $10 million in primary cyber coverage above a $10 million self-retention with Lexington.
Already, lawsuits have been filed against Anthem following a cyber attack, which potentially exposed the sensitive data of tens of millions of customers and employees.
Sources told Business Insurance that Anthem’s excess layers of cyber coverage were provided by Lloyd’s of London syndicates, Zurich Insurance Group, units of Liberty Mutual Holding Co., and CNA Financial Corp.