Instant Insights / October is National Cybersecurity Awareness Month

Insurance companies are expecting cyber-related losses across all business lines over the next 12 months.


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Municipal breaches. Hackers are changing their focus from private companies to more vulnerable municipalities and governments, which usually lack the funds to secure, respond and recuperate from an attack. (Photo: Shutterstock)

It’s no secret that the frequency and speed of cyberattacks have increased in the past five years. But whereas hackers have historically targeted private companies with deep pockets to steal from, municipalities and governments are increasingly coming under fire. In March 2018, the City of Atlanta fell victim to a massive cyber breach with far-reaching public consequences: thousands of residents were unable to access city services such as courthouses and the water department website. While the monetary fallout continues to rise, the latest figure is $2.7 million.

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