Mandatory data breach legislation fuels cyber insurance boom

Mark Doepel, partner at Australia-based Sparke Helmore Lawyers, said that the passage of mandatory data breach legislation through Australia's upper house in February and a rising toll of cyber attacks has created a hot new sector for local insurers, InnovationAus.com reported. Under the legislation, organizations and commonwealth government agencies must notify the Australian Privacy Commissioner as well as individuals affected or at risk from the breach.

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