Federal Meeting on Cyber Insurance

Federal Cyber Insurance Meeting

November 21, 2014

The new "Cyber Insurance" industry is getting a federal once over from the US Federal Treasury. These new insurance standards for information systems will reinforce and implement and test information security best practices among all US companies. Below are some perspectives on this meeting's objectives and success.

http://www.politico.com/morningcybersecurity/1114/morningcybersecurity16198.html

TREASURY, INDUSTRY MEET ON CYBER INSURANCE - The Treasury Department held a roundtable discussion on cyber insurance. Included were representatives from insurers, reinsurers, brokers, insurance consumers and senior federal agency leaders.  Topics included markets for cyber insurance and how insurance can spread and incentivize cybersecurity best practices - a process that the Obama administration has heavily encouraged and touted. Treasury Deputy Secretary Sarah Bloom Raskin reiterated the agency's "interest in the cyber insurance market and desire to encourage the development of market forces that could embrace our nation's cybersecurity" 

http://www.bna.com/treasury-plans-meeting-n17179907061/

The Treasury Department announced plans for a public meeting that will include an examination of developments in the cyberinsurance market and a cybersecurity "framework" developed by the Obama administration. 

Meeting notice: https://www.federalregister.gov/articles/2014/10/21/2014-24990/open-meeting-of-the-federal-advisory-committee-on-insurance

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