Public Finance Entities Face Challenges in Obtaining Affordable Cyber Insurance
“The rise of high-profile ransomware incidents in the public finance sector beginning in 2018 led entities to turn to cyber insurance as a means of risk transfer. With ransom demands generally in the five-digit range, affordable and easy-to-obtain cyber insurance helped reduce financial risk. However, with soaring ransom demands and recovery costs, insurers have adjusted premiums … Read more