Josh Mooney Discusses Proposed Cybersecurity Legislation
Josh Mooney, Co-Chair of the Cyber Law and Data Protection Group, provided comment to Law360 regarding the implications of proposed data-sharing bills that are headed to the Senate after overwhelming approval from the House. The legislation provides incentives for insurers who willingly share cyberthreat indicator data with the government, including liability protections for companies that disclose cyberattack and defensive measure details. Ideally, the legislation will lead to a decrease in data breaches and an increase in cyberinsurance policies.
Mooney agrees that the protections offered through the bills would promote the sharing of cyberrisk information by insurers and ultimately lead to a better understanding of the cybersecurity environment. "Better-known risks and fewer losses can help improve underwriting and risk assessment, reduce the cost of insurance and encourage more companies to obtain insurance," Mooney said.
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