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.