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Treasury asks whether terrorism risk insurance program should bolster cyber coverage

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Treasury asks whether terrorism risk insurance program should bolster cyber coverage The Treasury Department is soliciting public feedback on whether it should change a terrorism risk insurance program to address cyber-related losses. In a Federal Register notice set for publication Wednesday, Treasury seeks comment from the public for a mandatory report it must deliver to Congress this summer on ...
The article discusses the possibility of expanding the Terrorism Risk Insurance Program to include cyber-related losses. This suggestion comes amidst struggles in the cyber insurance industry to fully develop. The potential link between the reauthorization of the terrorism risk insurance law and the creation of a cyber backstop is highlighted. The article also mentions the limitations of the current program in covering cyberattacks certified as acts of terrorism. Patterns detected: ARC-0024 Ambi...