Equifax's insurance likely to be inadequate against cyber breaches

New York

EQUIFAX Inc's insurance against cyber breaches is likely to be inadequate to cover the credit-reporting company's costs tied to one of the biggest hacks in history, according to people familiar with the coverage.

The company holds a policy that would probably cover about US$100 million to US$150 million, with costs shared by carriers in the London market and elsewhere, said the people, who asked not to be identified discussing a private contract.