Regulators Recommending Cyber Risk Insurance

Cyber threats have gotten the attention of regulators, and regulators are recommending Cyber Insurance as one method for reducing risk. In June of this year, Commissioner Luis Aguilar gave a speech on cyber risks (here), noting both the increasing frequency and costs of attacks. In addition, he made the following comments: The threats are a particular concern because of the widespread and severe impact that cyber-attacks could have on the integrity of the capital markets infrastructure and on public companies and investors. Ensuring the adequacy of a company’s cybersecurity measures needs to be a critical part of a board of director’s risk oversight responsibilities. One conceptual roadmap boards should consider is the Framework for Improving Critical Infrastructure Cybersecurity, released by... Read more →