“The ICA’s policy paper recommended:
- Better data sharing from the insurance industry to the government and vice versa to prevent, detect, and report cyberattacks;
- Mandatory minimum-security requirements and third-party certifications for software and hardware to reduce cyberattack vulnerability; and
- Investment incentives for cyber risk education and businesses willing to disclose and work with enforcement agencies.
It also called for the government to develop and issue an Australian cybersecurity standard to ensure that government agencies and their contractors evaluate their cyber maturity according to uniform and constantly evolving standards.”
Source: ICA calls for cyber insurance overhaul | Insurance Business Australia