‘An insurance agent or broker should be recommending cyber insurance to 100% of their commercial accounts’
Two actions by the Securities and Exchange Commission this week on cybersecurity oversight — a big enforcement settlement and an agency statement reinforcing how public companies can comply with new rules – emphasize the importance of cybersecurity insurance, brokers and lawyers said.
The SEC on Wednesday imposed a $10 million fine on The Intercontinental Exchange, the parent company of the New York Stock Exchange, for failing to report in a timely way an April 2021 cyber breach, violating a longstanding regulation requiring disclosure to th