Cyber Insurance

Cyber Insurance

Explore the latest research on Cyber Insurance from GFOA and the Center for Digital Government.

Cyberattacks are a clear and present danger for local governments. The potential extreme consequences of a cyberattack have caused many local governments to turn to cyber insurance. Given the potential losses from an attack, transferring the risk of an attack to the insurance market could be an attractive proposition. However, cyber insurance is a relatively new type of insurance instrument compared to traditional insurances, like property and liability insurance. Also, the cost of a policy or the availability can change dramatically in a short time. In fact, as of this writing, many governments have experienced rapidly increasing premium costs. This research report will help local governments approach cyber insurance in a risk-savvy manner and make smart decisions about how to invest in protection against cybercrime.

"This is one of the best, most concise, and most readable papers I've seen on cybersecurity insurance - and I've written a few myself."

Mark Weatherford, Chief Strategy Officer at the National Cybersecurity Center and Chief Security Officer at AlertEnterprise

"Wow! This paper has so much in it that will benefit governments across the nation."

Phil Bertolini, Vice President, Center for Digital Government

Cyber Risk Savvy

Cyberattacks are a clear and present danger for all organizations, but local governments are particularly vulnerable. A 2020 study showed that local governments.

Interactive Model

We've put together an interactive Excel model to help you learn about the costs and benefits of ransomware insurance strategies.

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