AIR Estimates Losses for the Marriott Breach Will Be Between USD 200 Million and USD 600 Million
Verisk Analytics, Inc. (VRSK)
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Source: GlobeNewswire
For Immediate Release: AIR Estimates Losses for the Marriott BreachWill Be Between USD 200 Million and USD 600 Million BOSTON, Dec. 18, 2018 - Catastrophe risk modeling firm AIR Worldwide estimates that the direct cyber incident losses for the Marriott breach will be between USD 200 million and USD 600 million. AIR's loss estimates are based on the assumption that 500 million records were stolen, as Marriott has reported. The range of loss estimates reflects the uncertainty about the data that was stolen, e.g., while credit card data was stolen, it was encrypted; however, the encryption key itself may have been stolen as well. There is additional uncertainty, as some of these records may be duplicates. AIR Worldwide is a Verisk (Nasdaq:VRSK) business. "AIR's new probabilistic security breach model shows that this type of event is not unprecedented, even though an event of this magnitude hasn't previously happened to a hotel chain," said Scott Stransky, assistant vice p
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VRSK
Sec Filings
- 4/15/24 - Form 4
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- 4/11/24 - Form 4
- VRSK's page on the SEC website