Proposed U.S. Securities and Exchange Commission cybersecurity rules would provide some much-needed standardization for companies seeking to determine how much and when to reveal cyber-related intrusions to their investors, experts say.
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Observers say the regulation could have implications for both cyber and D&O policies, although these are difficult to determine at this point.
“Cyber insurance in particular is in a constant state of evolution, so it’ll be interesting to see how insurers adjust their language” in response to the proposed rules, said policyholder attorney James S. Carter, a partner with Blank Rome LLP in Washington.
"Feds Outline Broad Cyber Disclosures," by Judy Greenwald was published in Business Insurance on May 3, 2022.
