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This week, former Homeland Security Secretary Tom Ridge spoke at the Property Casualty Insurers Association of America, discussing his predictions of a government shift towards private cyber insurance to combat cyber security threats.

Ridge, who is currently the president and CEO of Ridge Global, described cyber hacks — in addition to global terrorism – as one of the two main fears that will continue to plague our modern world. He qualified the threat on cyber security as dangerous to the U.S. security and economy due to our “generally exposed infrastructure.”

Ridge concluded his speech with calls to augment data-sharing between the government and private corporations – relating his speech back to audience members by explaining how insurance is key in managing risks and protecting the private entities that share this information.

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