The Expert Podcast

So, how important is protecting against cyber attacks? Well, important enough that the U.S. federal government, from the executive branch, is offering one billion dollars to the states to avoid them. Before you decide whether to spend a couple of hundred bucks on an insurance policy, cyber protection, or defense for your company, think about this—the federal government thinks it's worth spending a billion.

How come? Well, this is in addition to a trillion-dollar infrastructure investment. The role of state and local security plans includes mitigating hacks against rail systems, power grids, and ensuring people have access to heat and transportation. They're also working to strengthen water systems against cyber attacks. If you're a municipal agency or a utility, you can submit an application for a grant and put that towards a cyber program.

Remember, cyber liability or cyber attacks don't just hit governments—they target private companies and even wealthy individuals. Whether you put in place a strong I.T. plan, get insurance, or use a combination of both, protection is key.

Think about where the smart money is going. Large organizations that understand these risks—including the federal government—are making significant investments. They have agencies like the CIA, FBI, and NSA tracking threats. If they think it's worth spending a billion dollars, that should tell you something about what you should do on your end.