WebJul 20, 2024 · The Terrorism Risk Insurance Program Reauthorization Act of 2024 requires the Government Accountability Office (GAO) to conduct … WebJun 21, 2024 · This report examines the extent to which (1) cyber risks for critical infrastructure exist; (2) private insurance covers catastrophic cyber losses and TRIP …
Government Accountability Office - Wikipedia
WebMay 25, 2024 · The increase in cyber insurance adoption and premium prices coincides with a changing — and more challenging — threat landscape, this according to a new GAO report on cyber insurance.. Malicious cyber activity poses a significant risk to the federal government and the nation's businesses and critical infrastructure, costing the U.S. … WebThe GAO report also includes information on cyber insurance trends, including: • The percentage of clients opting for cyber insurance coverage rose from 26% in 2016 to 47% in 2024. • Due to the increased demand for cyber insurance, higher insurer costs, and the rising number of cyber attacks, “more than half of respondents’ clients saw ... alcorn drive
Cyber Insurance: Action Needed to Assess Potential Federal Response to
WebMay 24, 2024 · On the one hand, demand for cyber insurance is at an all-time high. The GAO report found that the number of insurance customers opting for cyber insurance rose from 26 percent in 2016 to 47 percent in 2024, driven by the growing frequency and severity of cyberattacks. WebSep 29, 2024 · GAO Report, Cyber Insurance: Action Needed to Assess Potential Federal Response to Catastrophic Attacks 3 Findings. The GAO report notes, among other things: • U.S. critical infrastructure faces increasing cybersecurity risks: cyber incidents to critical infrastructure have increased in frequency and severity. WebMar 9, 2024 · attacks, malware, and associated ransomware extortion.”2 Cyber insurance is a growing market, with approximately $4 billion in direct premiums written in 2024.3 On June 21, 2024, GAO issued a report, Cyber Insurance: Action Needed to Assess Potential Federal Response to Catastrophic Attacks (GAO Report).4 The GAO Report alcorn co miss