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Cyber-insurance becomes popular among smaller, mid-size businesses

October 13, 2014 /

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More than 3,000 American businesses were hacked last year, many of them small and midsize firms that are often less protected than their multinational counterparts, according to the Center for Strategic and International Studies.

That surge in cyberattacks has led to a booming industry that aims to insure against data breaches. Roughly 50 companies around the country offer cybersecurity insurance, and as of last week, there was one more: Ridge Insurance Solutions, founded by Tom Ridge, the first secretary of the Department of Homeland Security.

By Abha Bhattarai

Full Story: http://www.washingtonpost.com/business/capitalbusiness/cyber-insurance-becomes-popular-among-smaller-mid-size-businesses/2014/10/11/257e0d28-4e48-11e4-aa5e-7153e466a02d_story.html?tid=hpModule_a2e19bf4-86a3-11e2-9d71-f0feafdd1394&hpid=z16

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