House Homeland Security Chair Garbarino identifies need to create federal backstop for cyber insurance outside of terrorism program

House Homeland Security Chairman Andrew Garbarino (R-NY) addressed the need for cyber insurance at a hearing on the reauthorization of the terrorism-focused insurance program run by the Treasury Department, where he argued that a separate federal backstop should be created for cybersecurity.

“There have been people that have come to me and talk about the creation of a cyber backstop, [a] federal backstop for cyber attacks. Some have suggested tying it to TRIA,” Garbarino said a Sept. 17 hearing...