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 Summary report says. The policy did not provide coverage for any losses as a result of not having multi-factor authentication in place.
“I understand why Hamiltonians are frustrated – this was a serious and costly breach,” Hamilton Mayor Andrea Horwath said in a July 30 statement. “We expect our public systems to be strong, secure, and dependable. This incident highlights that the city fell short of that standard – and we’re not okay with that.”…