The Baltimore Board of Estimates has approved a $20 million insurance plan to help protect the city against a repeat cyber attack.

The 2019 Travelers Risk Index has found that cyber risks are the top concern among businesses of all sizes for the first time since the survey began in 2014,

Seven in 10 senior financial executives at the world’s largest companies believe their insurer would cover most or all of the losses their company would incur in a cyber attack. Many of the losses they foresee, however, are rarely covered by insurance.

Specialist insurer Beazley has collaborated with Marsh, a leader in insurance broking and innovative risk management solutions, to provide cyber insurance cover and breach response US manufacturers.

A new Spiceworks study reveals that 38 percent of organizations across North America and Europe have an active cyber insurance policy.