+1 City Cyber Insurance. Anatomy of the $20M Policy Purchase.

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October 23, 2019

Where: Baltimore

What happened to spark the $20M cyber insurance policy? The city experienced a ransomeware attack that cost the city $18M

How did the bidding process work?

17 different carriers bid
2 contracts issued
combined total of $835,103
Chubb will provide $10 million in coverage, with a price tag of $500,103
AXA XL price tag of $335,000 for coverage of $10 million

Governing | Baltimore Authorizes Purchase of $20M Cyberinsurance Policy