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Insurer Eyeing Leahy Bill

DATA PROTECTION

February 11, 2010

The National Journal reports on the fledgling cyber-insurance market, which might receive a shot in the arm after the "malicious and well-publicized attack" that affected 20 companies in December. According to industry experts, insurers are adapting coverage to suit. "Underwriters are mostly concerned about companies having the right attitude and approach in their corporate DNA," said Al Modugno, a senior vice president with Marsh. "...If a company keeps senior staff for information security, they assume they will operate online safely." Modugno noted that he is following the progress of the Personal Data Privacy and Security Act, which cleared the Senate Judiciary Committee in December. "A federal data breach law would once and for all make it clear that a comprehensive cybersecurity mentality is necessary," Modugno said.
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