Cyber risk insurance, especially the ability to call out emergency support, is looking like a very good idea for Baltimore. Pity they are too late for this attack…:
[…] To top it off, unlike the City of Atlanta—which suffered from a Samsam ransomware attack in March of 2018—Baltimore has no insurance to cover the cost of a cyber attack. So the cost of cleaning up the RobbinHood ransomware, which will far exceed the approximately $70,000 the ransomware operators demanded, will be borne entirely by Baltimore’s citizens.
It’s not like the city wasn’t warned. Baltimore’s information security manager warned of the need for such a policy during budget hearings last year. But the final budget did not include funds for that policy, nor did it include funding for expanded security training for city employees, or other strategic investments that were part of the mayor’s strategic plan for the city’s information technology infrastructure.