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[Engadget] White House proposes formation of a cybersecurity insurance market - Page 2

post #11 of 18
Quote:
Originally Posted by HanSomPa View Post

I certainly would. There is a market for secure VPNs, Anti-Viruses, and many other kinds of Internet security packages. This decision, if anything, makes sense economically.

See I know you may have real fiscal reasons for protecting your data. But here's something to think about. How do you prove that to an insurance company? Moreover, how do you judge your security system against their "risk-based pricing models?" You'll practically have to prove your proficiency in the types of systems you mentioned, along with the capability of your computer to implement them properly, along with, most likely, user statistics to see if you're being honest. That is if you want a good deal anyway, I assume.

And let's not forget the corporate customers to this type of insurance. If you ask me they're the real target market. They can provide huge possible losses, when you start to take into account their liability to their own customers, and the amount of money they handle. I would wager it's going to be something you pay for at your own end, and theirs.

edit: just throwing this out there for color, imagine being required to use "State-Farm Antivirus."
Edited by un-midas touch - 8/6/13 at 10:38pm
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post #12 of 18
Evaluating the story, this is fine as long as everyone stays on topic. Devolving this to politics will result in a cleaning and possibly a lock, depending on who's handling it.
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post #13 of 18
Quote:
Originally Posted by Sarec View Post

Annnnd yet another 'solution' offered by government that claims 'insurance' will fix. This is ridiculous. Insurance shouldn't be mandatory or intertwined so deeply with government. I love America but every day I am watching it become more and more a cyberpunk corp controlled world OR a police state. The problem is I don't want either one to win but someday one will.
its just another attempt to create a market where rich can speculate only to have gov take on more debt to prevent collapse few years down the road.
i mean we all remember how CDS were not insurance policies and when it was time to pay up, AIG folded cause they had no money set aside to pay up.
Quote:
Originally Posted by un-midas touch View Post

I suppose, monetary damages incurred from electronic attack. But this whole "risk-based pricing models" is what bothers me. Maybe it will encourage companies to go ahead and finally stitch up those zero days.

Then again, the potential scale of a fraud operation is absolutely immense. Let's just forget about the fact that it's most likely going to be legally imperative at some point. That is if we're to just take a look at the rest of the insurance industry's history.
yep just another scheme

best
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post #14 of 18
No problem with new products in new markets.

Does not need government approval, support, or backing, however, and I believe such a push will probably have negative results all-round.
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post #15 of 18
Voluntary - Do it or we'll make you

Cyber security - I know what you did last summer
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post #16 of 18
So whats stopping one of these insurance companies attacking their customers network? The customer sees its being attacked more, the insurance company sees it, determines they are actually a higher "risk factor" and push up premiums and prices.

A typical reactive approach instead of a proactive one.
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post #17 of 18
There's nothing i despise more than insurance companies.
Quote:
Originally Posted by Sarec View Post

Annnnd yet another 'solution' offered by government that claims 'insurance' will fix. This is ridiculous. Insurance shouldn't be mandatory or intertwined so deeply with government. I love America but every day I am watching it become more and more a cyberpunk corp controlled world OR a police state. The problem is I don't want either one to win but someday one will.

Exactly. Often you find those with influence/money cause a problem, then conveniently provide or encourage a "solution" that benefits them further.
post #18 of 18
Quote:
Originally Posted by HanSomPa View Post

https://en.wikipedia.org/wiki/Adolf_Tolkachev
http://en.wikipedia.org/wiki/Industrial_espionage#The_legacy_of_Cold_War_espionage
http://en.wikipedia.org/wiki/Industrial_espionage#Notable_cases

It doesn't stop anything. Espionage is a major problem for everyone involved. This doesn't stop at the government or corporate level either. Data mining and selling data to other nations is fairly common. It's "harmless" and impossible to stop in any effective, non-intrusive measure.
Yeah, definitely agree with you on this. Educating the populace is the best method of prevention. Like Anti-Viruses, the best one is the user himself.
I certainly would. There is a market for secure VPNs, Anti-Viruses, and many other kinds of Internet security packages. This decision, if anything, makes sense economically.

The problems you describe sound more like personnel issues.

But really what are you insuring against? I mean what are you paying money for? If someone hacks you an insurance company cuts you a check?

I didn't think about this when I first posted, but it opens up a whole new can of worms.

I mean with a car insurance policy if you have an accident insurance fixes it. If someone breaks into your network, steals secret plans for a fighter jet....does insurance just give you money? Are they going to replace your secret jet plans? This doesn't make sense, because data can be copied infinitely, it's not physical.

Are they going to pay you to secure your network? This raises some interesting questions.

I think education is going to fix this problem. A lot of schools don't teach proper data security practices. Maybe this is a change in CS programs that needs to be done for the new era of cyber security, where everyone needs to have a basic level of understanding of good security practices.

Education for the end users who are the weakest link in the chain, etc. This isn't something that's going to be fixed overnight, and insurance isn't going to encourage a solution.

You're never going to be completely unhackable, but at the same time you can try your hardest not to be, and follow proper security guidelines.
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