New Biden Cybersecurity Plan Will Push Regulations, Address 3rd Party Liability: WaPo 

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The Biden Administration plans to release a national strategy that will introduce comprehensive cybersecurity regulation of the US’s critical infrastructure, acknowledging that voluntary efforts have not been sufficient in protecting against cyberattacks. Officials have stated that the new strategy will include expanded requirements for private companies operating in critical sectors. This marks the first time … Read more

Keeping the Lights On: Feds Try to Get Ahead of Threats to the Grid as Cyber Insurance Premiums Jump 

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Focus on cybersecurity for the grid was growing even before criminals attacked Washington and North Carolina substations in December. “The Federal Energy Regulatory Commission is considering developing new cybersecurity rules for DERs (Distrubuted Energy Resources) on the bulk electric system and DOE (Department of Energy) is directing millions to support ‘next-generation’ cybersecurity research, development…” “…The … Read more

2023 Could See First Cyber “144a Cat Bond:” CyberCube 

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144a Catastrophe (“Cat”) Bonds are trade-able (re)insurance-linked securities (ILS) that “cover more remote risk and that coverage is on a named-perils basis, which provides a level of predictability.”  “’While there have been a few private cyber ILS transactions in the past, the industry is still waiting for the first 144a cat bond,’ Brittany Baker, vice … Read more

How Do Hackers Determine the Ransoms They Demand?  Check Out This Warning 

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The article concerns the ransomware gang “Vice Society” and others known for attacking educational institutions. “The amount of ransom demanded can range from the thousands of dollars to the millions, (Brett Callow, a threat analyst with the cybersecurity firm Emsisoft) said. ‘These groups have access to networks. They have looked at the organization’s financials, which … Read more

Fed Spending Bill Requires CISA to Evaluate and Report Back re Public-Private Cyber Insurance Working Group 

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“Lawmakers also want CISA (Cybersecurity and Infrastructure Security Agency) to report back in 90 days about the feasibility of a public-private ‘cyber insurance and data analysis’ working group and establishing an accreditation program for third-party cybersecurity providers that work with federal agencies, critical infrastructure operators and state and local governments.”

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