Cybersecurity Coalition urges baseline security requirement as Treasury closes comment period on cyber insurance

The industry-based Cybersecurity Coalition is calling for requiring “a baseline level of risk-based security” in cyber insurance policies, as the Treasury Department’s Federal Insurance Office closed a public comment period on a possible federal insurance role in the event of “catastrophic” cyber incidents.

“The risk assessment and due diligence process of the insurer must require the policyholder to meet some minimum level of cybersecurity competency reflective of their risks,” the Cybersecurity Coalition said in comments submitted to Treasury on...