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A Broker's Guide to Cyber Insurance For Municipalities | 1Fort
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As technology continues to evolve and provide hackers with more sophisticated ways to launch attacks, organizations must prioritize security against rampant cyber attacks. From private businesses to nonprofits and local municipalities, leaders should consider the growing number of cyber threats that could affect their organizations.According to IBM's most recent report, the average cost of some of the most common cybersecurity attacks, such as data breaches, ransomware attacks, and single destructive attacks, ranged from $4 to $4.5 million.But despite the alarming statistics, most municipalities don’t implement essential cybersecurity measures, making them highly vulnerable to cyber-attacks.As a broker, now is the perfect time to get involved. In this article, we will discuss what you need to know about cyber insurance for municipalities if you want to tap into selling to this market.The Importance of Cyber Insurance for MunicipalitiesThe primary reason state and local entities would w...
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