Local government officials are increasingly turning to cybersecurity insurance to help curb the growing threat posed by ransomware attacks.
two Iranian men for ransomware attacks on more than 200 victims, including Atlanta and Newark. The attacks netted more than $6 million and cost the affected governments and companies more than $30 million.
Liska said his review has found government entities are less likely to pay a ransom than private companies or individuals. Attacks on government generate more attention, though, and hackers seem to be seeking infamy along with a payout. Shark said he’s heard of governments paying as much as $20,000 for cyber insurance but considers that an investment against a system rebuild that could cost millions.
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