Federal Contractors Argue Cyber Insurance Isn’t a Safe Bet for Better Security

Federal contractors represented by the Professional Services Council fear that a GAO report on the government’s role facilitating coverage of cybersecurity risks will lead to a mandate that their companies hold related insurance policies, which they believe “would require significant contractor community investments while providing few if any benefits to cybersecurity.” The Cybersecurity Solarium Commission has proposed financial incentives instead of regulatory mandates to advance cybersecurity practices, promoting the market for cybersecurity insurance through government's purchasing power.