Cyber Insurance-- our identities, bank accounts and reputations are at risk.
Cyber-crimes cost Americans $100 billion per year and is projected to skyrocket in the future.
California with its high-tech industry and as the number one insurance market in the country is positioned to be a leader bringing the tools of insurance to mitigate and prevent this from occurring. We should:
- Support insurers in establishing an organization that would conduct cyber insurance research, data acquisition, and information sharing industry-wide.
- Be prepared to rapidly approve new cyber insurance products
- Support establishment of a certification process for the cyber security professionals who manage our country’s corporate computer systems. A continuing education program to maintain the certified status and level could also be sponsored.
- There is a massive shortage of trained cyber security personnel in the US, which is one reason why so many companies are hacked. We should encourage the cyber security insurance industry to pool its efforts to grant scholarships, sponsor professors, arrange internships/apprenticeships.