Not just what is said, but also what is not said in the cyber back stop conversation. A glimpse into the Treasury’s thinking provided by Steele’s

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Not just what is said, but also what is not said in the cyber back stop conversation.

A glimpse into the Treasury’s thinking provided by Steele’s closing remarks to the conference revealed an answer of “it depends.”

A “well-designed federal insurance response could address the risks of tail events while incentivizing healthy private sector practices,” said Steele according to his remarks released by Treasury, but a “poorly designed program could shift too much risk to the government and reduce firms’ incentives” to shore up cybersecurity.

Lots of challenges ahead that the U.S Treasury is starting to focus on as the debate on a Federal cyber insurance backstop moves into 2024 under the ONCD cyber strategy.

Ted Dziekanowski

#cyberinsurance #insurancebackstop

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