“Unlike fire insurance, insurers just donât have access to over 100 years of cyber loss data that they could use to build policies,” Finan said at a cyber forum Thursday.
He added multiple sectors are willing to contribute to a proposed repository for private companies to analyze and exchange information about cyber attacks.
Security and risk management professionals also seek access to such a database so they can understand the frequency and impact of breaches and develop new technology offerings, the report said.
A DHS working group has been working with industry over the past two years in an effort to help insurers update cyber liability programs, the publication reports.