Cybergovernance Journal Update – 3/3/17

by | Mar 3, 2017

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With the U.S. Government aiming to require agency compliance with the NIST Cyber Security framework, is making it part of a national cybersecurity regulatory plan that far off?

The Growing Mandate for Cyber Risk Governance

LinkedIn Pulse, Feb. 28
Higher levels of risk to the economy and national security of the U.S. are driving significant changes in how we respond to cyber risk. Widespread reporting and improvement of defensive measures at thousands of organizations will eventually be mandated, similar to financial reporting requirements under Sarbanes-Oxley…

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New Bill Would Give NIST Authority in Cybersecurity Framework Execution

MeriTalk, Mar. 1
“This common-sense legislation capitalizes on NIST’s unique position as a global leader in cybersecurity knowledge and readiness and takes a long stride in protecting U.S. cybersecurity capabilities,” said Lamar Smith, R-Texas, chairman of the House Science, Space, and Technology Committee. The bill was passed by the House Science Space and Technology Committee on Wednesday and now moves to the House floor…

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Cyber Insurance Held Back by Lack of Data

Financial Times, Feb. 22
Insurers need to rethink their approach to cyber insurance if they are to break a “vicious circle” that is holding back the market, according to a report from Deloitte…

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Helping Small Insurers Sell Cyber Coverage to Small Businesses

Insurance Journal, Feb. 24
Cyber risk remains difficult for insurance underwriters to quantify due in large part to a lack of actuarial data. Insurers compensate by relying on qualitative assessments of an applicant’s risk management procedures and risk culture. As a result, policies for cyber risk are more customized than other risk insurers take on, and, therefore, more costly…

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Financial firms in NYC face stricter cyber security regulation

Information Age, Mar. 1
This regulation is very similar to the standards set forward in the EU GDPR, only much more localized. As part of the regulation firms must reshape or create cyber security policies surrounding information security, data governance, network monitoring, data privacy and incident response…

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Cybernance and Lockton Offer Cyber Insurance Risk Solution

Yahoo, March
“The Cybernance platform will help Lockton clients assess their cyber security posture in real time relative to the NIST Cyber Security Framework as well as the imminent New York Department of Financial Services Cyber Security Regulation,” said Ben Beeson, cyber risk practice leader for Lockton…

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