---
title: "The Cost of Anti-phishing Software Compared to Cyberinsurance | DuoCircle"
description: "When it comes to getting hit by ransomware, it doesn’t get much worse than the city of Baltimore."
image: "https://www.duocircle.com/images/og-default.png"
canonical: "https://www.duocircle.com/blog/phishing-protection/the-cost-of-anti-phishing-software-compared-to-cyberinsurance/"
---

Quick Answer

Baltimore's 2019 ransomware incident cost over 18 million dollars in recovery against a 76,000 dollar ransom they refused to pay. Their post-incident cyberinsurance: 835,000 dollars per year in premiums plus two 1 million dollar deductibles, so a second incident would run roughly 3 million dollars out of pocket. Compare that to anti-phishing email security at roughly 15 cents per mailbox per month: protecting Baltimore's 13,683 employees would cost under 2,000 dollars per month, or about 24,000 dollars per year. The 3 million dollars Baltimore now budgets in coverage and deductibles would buy them roughly 118 years of protection that prevents the ransomware from arriving in the first place. Insurance pays for the cleanup. Email security stops the email.

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![Anti-phishing Software](https://media.mailhop.org/duocircle/images/2019/10/spf-record-check-2758.jpg) 

When it comes to getting hit by ransomware, it doesn’t get much worse than the city of Baltimore. When the city got **hit by ransomware** earlier this year, apparently it had neither [anti-phishing software](/email/phishing-protection) protecting its email accounts nor cyberinsurance in the event that it did. And because the _city has refused to pay the ransom ($76,000), it has spent in excess of [$18 million](https://www.baltimoresun.com/maryland/baltimore-city/bs-md-ci-ransomware-email-20190529-story.html) restoring systems to date_.

Now, in a case of too-little-too-late, the city has belatedly decided to [purchase cyberinsurance](https://www.scmagazine.com/home/security-news/data-breach/baltimore-belatedly-buys-cyberinsurance/?utm%5Fsource=newsletter&utm%5Fmedium=email&utm%5Fcampaign=SCUS%5FNewswire%5F20191021&hmSubId=01xQvtS0ero1&email%5Fhash=0da939dab246e8101d6090def505f6f5&mpweb=1325-10782-1896988) against such attacks in the future. And _how much does the insurance cost?_ That’s where things get interesting.

The cost for $20 million of cyberinsurance coverage, ostensibly to cover $18 million in costs they experienced in this attack, is **$835,000 per year**. But that’s not the only cost. _That coverage comes with two $1 million deductibles_. So, should Baltimore get hit again, They’d be on the hook for close to **$3 million** including coverage and deductibles.

Now, let’s compare the cost of cyberinsurance to the cost of **anti-phishing software**. You know, software that can keep you from getting hit by ransomware in the first place.

[![Anti-Phishing Software](https://media.mailhop.org/duocircle/images/2019/10/Anti-Phishing-Software-Trends-Statistics.jpg)](https://media.mailhop.org/duocircle/images/2019/10/Anti-Phishing-Software-Trends-Statistics.jpg)

According to the city of Baltimore’s website, there are [13,683 employees](https://data.baltimorecity.gov/City-Government/Baltimore-City-Employee-Salaries-FY2018/biyh-j8tc), we assume each with their own email address. What’s the cost to protect that many email accounts? _A good estimate would be about 15₵ per account per month_. And when you do the math, that comes out to less than **$2,000 per month** to protect every city employee from phishing emails, [93% of which contain ransomware](https://www.csoonline.com/article/3077434/93-of-phishing-emails-are-now-ransomware.html). Let that sink in. $2,000 per month compared to almost $3 million.

_What would that $3 million buy in terms of anti-phishing software for 13,683 employees? How about 118 years of protection._

It’s the difference between fire insurance and a smoke detector. You want fire insurance, go ahead and get some. But do yourself a favor, install one of those cheap smoke detectors too to keep your house from burning down in the first place.

[![Phishing Protection](https://media.mailhop.org/duocircle/images/2019/10/spf-record-8316.jpg)](https://media.mailhop.org/duocircle/images/2019/10/spf-record-8316.jpg)

When you’re ready to keep your digital house from burning down, get [phishing protection](/email/phishing-protection) from DuoCircle. It sets up in 10 minutes, costs pennies per account per month and comes with 24/7 live technical support. Don’t be the next Baltimore.

![Brad Slavin](https://media.mailhop.org/dmarcreport/images/team/brad-slavin.jpg) 

Brad Slavin 

General Manager

General Manager at DuoCircle. Product strategy and commercial lead across the email security portfolio.

## Secure your email infrastructure

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