Insurance requirements can drive stronger cybersecurity, Treasury official says

The insurance industry has a key role to play in helping U.S. companies strengthen cybersecurity, a senior Treasury Department official said Thursday.

At a time when Congress is struggling to pass cybersecurity legislation and as the number of computer intrusions surges, “insurers can move the needle,” Deputy Secretary Sarah Bloom Raskin said at a Washington think tank.

Her speech reflected how the Obama administration is trying to enlist a range of sectors and use a variety of tools to combat the cyberthreat. Meanwhile, on Capitol Hill, senior security officials testified to the complex nature of the challenge, as criminals and foreign governments have become increasingly adept at penetrating U.S. government and private sector networks to steal both commercial secrets and foreign intelligence.

Read full article on The Washington Post…

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