Survey: U.S. insurers earned $1B in cyber premiums last year
August 26, 2016
U.S. insurers took in almost $1 billion in premiums last year for writing cybersecurity policies, according to new figures from credit analysts at Fitch Ratings.
David Stegon was a staff reporter for FedScoop and StateScoop from 2011-2014.
The heads of nine major technology companies wrote a letter to President Obama and members of Congress urging them to avoid the “fiscal cliff” that is expected to hit on January 1 if the nation’s leadership doesn’t act.
The letter was signed by the chief executive officers of Dell, Motorola Solutions, Xerox, Micron, Qualcomm, Intel, IBM, Applied Materials and EMC and expressed concern that the fiscal cliff is “one of the most avoidable economic crisis” in the nation’s history.
"Failure to act will undermine our economy and make the challenge of restoring growth and fiscal sustainability that much more difficult," the group wrote. "Investments in education, infrastructure and research have proven track records of spurring long-term growth. Additionally, modern business practices can help make government operations more efficient.”