Where: Baltimore
What happened to spark the $20M cyber insurance policy? The city experienced a ransomeware attack that cost the city $18M
How did the bidding process work?
- 17 different carriers bid
- 2 contracts issued
- combined total of $835,103
- Chubb will provide $10 million in coverage, with a price tag of $500,103
- AXA XL price tag of $335,000 for coverage of $10 million
Governing | Baltimore Authorizes Purchase of $20M Cyberinsurance Policy