“Federal entities—such as the Federal Insurance Office (within Treasury) and the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency (CISA)—have taken steps to understand the financial implications of growing cybersecurity risks. But, we found they haven’t assessed what the federal role should be in the event of a catastrophic cyber incident.
Completing such an assessment will help Congress in considering whether a federal insurance response is warranted. We recommended that both the Federal Insurance Office and CISA take these important steps.”
Source: Rising Cyberthreats Increase Cyber Insurance Premiums While Reducing Availability | U.S. GAO
