White House Outlines Potential Cybersecurity Incentives

Privacy/Cyber Risk & Data Security NIST

On August 6, the White House released proposed incentives to drive participation in the cybersecurity program framework under development by the National Institute of Standards and Technology. Both the framework and the incentives were directed by an Executive Order (EO) issued earlier this year by President Obama. The administration notes that while some of the proposed incentives can be adopted soon after the voluntary framework is established, others will require legislative action. The policy options under consideration include, among others, (i) encouraging cybersecurity insurance, (ii) offering critical infrastructure grants, (iii) limiting liability of participating companies, (iv) streamlining regulations, and (v) providing public recognition.