Australia's top health insurer reels after data breach

FILE PHOTO: An illuminated sign is seen outside a branch of the Australian health insurer Medibank Private in Sydney October 20, 2014. REUTERS/David Gray

(Reuters) - Medibank Private Ltd, Australia's biggest health insurer, reported a massive data breach in October that compromised personal and medical information of its current and former customers, and slashed its stock value by almost a fifth.

The incident was one among a recent slew of hacks into some of the country's largest companies, which experts say points partly to an understaffed and overworked cybersecurity workforce.