(Bloomberg) -- Tom Ridge, the first homeland security chief under President George W. Bush, says companies face more risk of cyber attacks similar to those that struck JPMorgan Chase & Co., Home Depot Inc. and Target Co.
Speaking at a briefing in London today, Ridge whose new company has teamed up with Lloyds of London to offer cyber attack insurance, said the risks had been accentuated by the “extraordinary breaches” at JPMorgan and two of America’s largest retailers.
“What we have seen is the sophistication of these attacks continue to elevate,” said Ridge, 69, chairman of Ridge Insurance Solutions Company. “Who would have thought that JPMorgan with its security budget could be hacked into. Now a lot of people are thinking if it could happen to them, it could happen to us too.”
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