Non-Cyber Insurance Options for Cities

What is happening? Cities are being priced out of cyber insurance. Premium rates are rapidly increasing while at the same time warnings of hackers increase since the invasion of the Ukraine. Some cities are responding by self insuring. Some are ensuring that their vendor contracts require quick notification, and some adopt technology that can automatically check their websites for vulnerabilities.

Why is this important? 49% of city agencies that experience ransomware pay the ransom.

How will this be important? Led to cities self insuring. States are passing legislation that prevents the payment of ransoms.

Government Technology | Local Governments Seek Other Options Amid Cyber Insurance Woes