Federal cyber insurance backstop should be tied to expiring terrorism insurance law, report recommends

Federal cyber insurance backstop should be tied to expiring terrorism insurance law, report recommends

Congress should use renewal of an expiring terrorism insurance program to create a federal backstop for cybersecurity insurance, according to a report out Tuesday that tries to thread many difficult needles to bolster an industry that its author says isn’t developing fast enough. In an ideal world, cybersecurity insurance can be a valuable tool to protect policyholders and push everyone into adopting better cyber practices, but it will need gove…

Report: Renewed terrorism insurance law should include federal cyber insurance backstop

Congress has been urged by Foundation for Defense of Democracies' Nick Leiserson to include a federal cyber insurance backstop upon the renewal of the Terrorism Risk Insurance Act, which is set to lapse in 2027, in a bid…