The Source for Cyber Insurance News, Insights and Data
[Yes, we didn’t know that’s North Dakota’s office nickname.] How to help state/local governments improve their cybersecurity when cyber employees are scarce, threats many and insurance expensive? An innovative approach is being run in North Dakota, where the state offers SOC and managed security services and users can obtain a 4% discount on cyber insurance. … Read more
The hints come from an article by the National Security Agency’s (NSA) former general counsel, Glenn S. Gerstell, who’s been involved in development of the plan. He predicts a much more detailed cyber strategy than in past and indicates increased federal involvement is coming, because: “Market forces are not enough.” That includes reliance on cyber … Read more
Media discussion of a “cyber TRIP” tends to the bullish. This report, by post-doc cyber insurance researcher Daniel Woods @leltop, surfaces the potential downside of such a plan, from moral hazard to perverse incentives that might reduce improvements in cyber security by the insured. We don’t necessarily buy all the arguments here, but the detailed … Read more
While not everybody is yet entirely convinced the feds should provide a backstop to cyber insurers for catastrophic system-wide attacks, Politico reports the discussion is moving forward. “But policymakers and executive branch officials have plenty left to iron out, said (RAND senior policy researcher Sasha) Romanosky (@SashaRomanosky), and they might opt for something far less … Read more
The Des Moines, Iowa school system has called in its (unnamed) cyber insurer, the FBI and DHS after an apparent ransomware attack, which put 30,000 students out of school for two days. While many students were doubtless thrilled to be at home with no access to online learning, the school district is responding as if … Read more