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U.S. House talks cyber insurance, threats and business risks

Supporting the cyber insurance market, and the strength of small businesses to ward off cyber threats, is among the Trump Administration's goals.

By Elana Ashanti Jefferson | Updated on July 27, 2017

Editorial Note: Due to a reporting error, a statistic was inproperly attributed in an earlier version of this article. Cybersecurity Ventures has predicted that cybercrime costs will reach $6 trillion annually by 2021, not Ernst & Young, as was previously reported.

During a July 26, 2017 hearing before the U.S. House of Representatives Small Business Committee, Chairman Rep. Steve Chabot (R-Oh.) stated that cyber threats have become a critical concern for the country’s 28 million small businesses, with the Justice Department recording nearly 300,000 cybersecurity complaints in 2016 alone.

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Elana Ashanti Jefferson

Elana Ashanti Jefferson

Elana Ashanti Jefferson serves as ALM's PropertyCasualty360 Group Chief Editor. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].

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