The City of Hamilton will bear over $18 million in expenses linked to recovering from a ransomware attack after its insurance claim was denied. The insurer's refusal was based on the fact that multi-factor authentication had not been fully implemented for online services at the time of the cyber incident. A review conducted by a third-party confirmed that the denial adhered to the terms of the policy, corroborating the insurer's position.
The City of Hamilton faces costs exceeding $18 million due to a ransomware attack, as its insurance claim for recovery was denied for not implementing multi-factor authentication.
A city committee was informed that the insurer's denial was supported by the findings of a third-party review, confirming the lack of full implementation of required security measures.
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