Aug. 26-Governments are turning to private insurance as cyber policies raise premiums and reduce coverage, said Colorado CISO Ray Yepes on a FedInsider panel yesterday.
“Almost every state has self-insured, and if they don’t, they’re working to get self-insured,” Yepes said.
Countries are facing risks where prices will continue to rise and cyber insurance will become scarce.
“To me, if you’re going to get cyber insurance, that’s the main reason you want to get it — it’s ransomware,” Yepes said.
This type of behavior is not limited to
Public agencies have a unique opportunity to switch to self-insurance instead, Yepes said, because of the amount of backup resources they have in case their reserves run out.
“If you’re in the state, I imagine you get insurance for your state, your organization, your city,” Yepes said.
And these resources are not the last resort. Governors can declare the crisis to help solve a problem that needs more money, turning to federal laws such as
Another tip in favor of self-insurance? States don’t have to use vendors chosen by their insurers, which frees them up to use companies with existing relationships, Yepes said. This means that the vendors who are brought in during an emergency are those who already know the state’s procedures.
Yepes said he wanted to donate
A standard implementation sees each organization have its own IT staff, systems and processes, with each government IT department focused on providing key policies and guidelines. Centralized state IT is approaching, at this time, see the IT department of one state as the main source of IT processes, management, services and personnel.
This decision could have a significant impact on cybersecurity, Yepes said.
“One of the great advantages [of centralized infrastructure] and security,” he said.
The central IT department has a lot of control, which helps to implement the policies quickly.
“One of the [the impacts] people don’t realize it’s the speed of decision making. The central agency is very fast,” Yepes said.
WAITING FOR CYBER MONEY
As governments and local governments prepare for cyber reforms, many are looking forward to long-promised cybersecurity aid, which is expected to be delivered this year.
Virginia’s deputy secretary of cybersecurity
“We’re asking communities what they need,” Andrews said. “My Commonwealth tour… [aims] find out what their needs are, what opportunities we have, and how they can use the money from the federal government to benefit them. “
Another part is establishing processes designed to make it easier for communities to apply for funding when it becomes available, including establishing a support group and documenting useful information, Hernandez said.
Alaska CISO Chris Letterman said his state is working to better identify its regions and hopes federal aid will help with that.
“One of the things that the SLTT grant gives us is on the way to show the world about cybersecurity,” he said.
His goals are close to time
Letterman added that uncertainty about when the aid would arrive has created some obstacles, but said the money “has a lot of potential.”
“We’re still on hold with the federal government as to when the Notice of Funding Opportunities will hit the road,” Letterman said. “And that will tell us a lot about how we can address some of those needs and fulfill some of the things that the SLTT grant has.”
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