Kentucky cities preparing their budgets need to be sure they provide funding for cybersecurity. Cybercrime continues to increase. The FBI’s Internet Crime Report shows a record-breaking 847,376 complaints in 2021, with potential losses of more than $6.9 billion.
LMG Security, an international cybersecurity consulting firm, recommends cities prioritize cybersecurity spending by focusing on four key factors.
No cybersecurity program can address every risk. Cities should prioritize investments to address the most concerning risks and select cyber insurance coverage based on anticipated risks. Incorporate any required technologies or practices into your cybersecurity and incident response programs.
Kentucky League of Cities Insurance Services offers cybersecurity coverage as a value-added benefit for liability customers. KLC also has a $1 million Cybersecurity Preparedness Grant that helps liability policyholders secure their data. Grants can reach up to $15,000, and cities can use the funds for various measures. The grant period runs from Nov. 15, 2022, to June 30, 2023.
Source: Some content provided by LMG Security.
Some of the views, opinions, and advice provided and expressed in this document are those of the author(s) and do not necessarily represent the views or opinions of LMG Security.