Baltimore Buys $20 Million in Cybersecurity Insurance

The City of Baltimore, Maryland will fork over $20 million to insure itself against network disruptions caused by future cyber attacks.

The city is purchasing two plans, according to the Baltimore Sun: $10 million in liability coverage and another $10 million for excess coverage. Both plans come with a $1 million deductible and premiums at $500,103 and $335,000 respectively.

The purchase comes almost six months after the discovery of a ransomware attack in which hackers seized government data and demanded $100,000 in bitcoin.

Read more at the Baltimore Sun.


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