Anthem data breach cost likely to smash $100 million barrier

The financial consequences of Anthem's massive data breach could reach beyond the $100 million mark, according to reports.

The US health insurance provider's cyber insurance policy, led by the American International Group, covers losses of up to $100 million. However, when a company has up to 80 million current and previous customers, staff and investors to contact, reassure and notify, this amount may not be enough.

Last week, Anthem confirmed a security breach which resulted in the exposure and theft of up to 80 million records. Using a stolen password, hackers were able to break into a database which contained the personal information of former and current clients, as well as employees.