From: The Verge

By T.C. Sottek

On February 12th, following dissatisfaction with Congress’ ability to pass cybersecurity legislation like CISPA, President Obama signed an executive order that allows the government to share more information it has on so-called national “cyber threats” with private companies. Today, the White House previewed a set of incentives it hopes will eventually convince private companies to comply with the voluntary provisions of the order.

Chief among those incentives is a proposal from multiple US agencies that would establish a competitive “cyber insurance market.” The White House says that the goal of a cyber insurance market would be to create incentives for companies to adopt “cyber risk-reducing measures.” While such a market is only in the early stages, it’s reminiscent of post-9/11 measures to insure against the risk of terrorism, which resulted in the Terrorism Risk Insurance Act — an effort to provide a backstop to the insurance industry and protect the US economy in the event of another major attack.

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