Despite the relatively new nature of cyber insurance policies, small businesses are finding value in their offerings, according to witnesses who testified before the House Small Business Committee on July 26. “It affords me the knowledge that if we were hacked, protective steps have been taken to address any potential damages to the company and my employees,”said Robert Luft, president of SureFire Innovations. […]

The Government Accountability Office, in a new report, said the Small Business Administration needs to do more to upgrade IT security. The SBA, which hands out billions in loan guarantees to small businesses, said it has fixed more than 30 recommendations.