Cyber Insurance Laws & Regulations

Got an Opinion on Government Financial Backing for the Cyber Insurance Industry? You’ve Still Got Time to Weigh In

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The new deadline to comment on the issue is December 14th. “Pursuant to a recommendation from the Government Accountability Office, under direction from Congress to investigate the question, the agencies are seeking answers on ‘the extent to which risks to critical infrastructure from catastrophic cyber incidents and potential financial exposures warrant a federal insurance response,’ … Read more

Should Ransomware Payments Be Banned?

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Australia’s Home Affairs Minister said the government is considering just such a move, following a dramatic ransomware attack (where the victim did not pay ransomware and had no cyber insurance).  A recent study reports that ransomware payments are far from guaranteed to produce system recovery. “(T)he Veeam report said: ‘One of the more notable statistics … Read more

MSPs Warned: Be Careful About Giving Clients Cyber Insurance Advice 

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“During an XChange session titled ‘What An MSP Needs To Know About Cyber Insurance,’ …Paul Vedder, managing director of Palm Beach Grardens, Fla.-based VXI…agreed that compliance is becoming a larger segment of their business relationships with customers. Vedder, responding to questions from panel moderator Jim King of Atlantic Pacific Insurance, said that MSP personnel need … Read more

Europeans Want to Beat US Regulators to Cyber Standards that Support Insurance  

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“’So I think we should have reference standards appropriate for SMEs that would be a real target for them to know what they should do to implement cybersecurity. If we do that, then insurers will also be happier to insure them. So we would have better cyber protection and cyber risk management across Europe,’ said … Read more

Got an Opinion on Whether the Feds Should Take a Major Role in Cyber Insurance? You’ve Still Got Time to Weigh In with the Government

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From the Dept. of Treasury — SUMMARY: Over the past several years, the Federal Insurance Office (FIO) in the U.S. Department of the Treasury (Treasury) has continued its ongoing efforts with regard to both cyber insurance and insurer cybersecurity. Cyber insurance is a significant risk transfer mechanism, and the insurance industry has an important role … Read more

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