Notice2022-24476
Potential Federal Insurance Response to Catastrophic Cyber Incidents
Primary source
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Published
November 9, 2022
Issuing agencies
Treasury Department
Abstract
On September 29, 2022, Treasury published a Notice that invited the public to comment on questions related to cyber insurance and catastrophic cyber incidents in order to inform a joint assessment being conducted by the Department of the Treasury's Federal Insurance Office (FIO) and the Department of Homeland Security's Cybersecurity and Infrastructure Security Agency (CISA) into "the extent to which risks to critical infrastructure from catastrophic cyber incidents and potential financial exposures warrant a federal insurance response." The purpose of this notice is to extend the comment period for a period of one month until December 14, 2022 and provide more time for interested parties to provide comments.
Full Text
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<title>Federal Register, Volume 87 Issue 216 (Wednesday, November 9, 2022)</title>
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[Federal Register Volume 87, Number 216 (Wednesday, November 9, 2022)]
[Notices]
[Page 67755]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-24476]
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DEPARTMENT OF THE TREASURY
Potential Federal Insurance Response to Catastrophic Cyber
Incidents
AGENCY: Departmental Offices, Treasury.
ACTION: Request for comments; extension of comment period.
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SUMMARY: On September 29, 2022, Treasury published a Notice that
invited the public to comment on questions related to cyber insurance
and catastrophic cyber incidents in order to inform a joint assessment
being conducted by the Department of the Treasury's Federal Insurance
Office (FIO) and the Department of Homeland Security's Cybersecurity
and Infrastructure Security Agency (CISA) into ``the extent to which
risks to critical infrastructure from catastrophic cyber incidents and
potential financial exposures warrant a federal insurance response.''
The purpose of this notice is to extend the comment period for a period
of one month until December 14, 2022 and provide more time for
interested parties to provide comments.
DATES: The comment period for the notice published at 87 FR 59161 on
September 29, 2002, is extended. Responses must be received by December
14, 2022 to be assured of consideration.
ADDRESSES: Please submit comments electronically through the Federal
eRulemaking Portal: <a href="http://www.regulations.gov">http://www.regulations.gov</a>. All comments should be
captioned with ``Potential Federal Insurance Response to Catastrophic
Cyber Incidents.'' Please include your name, organization (if
applicable), and email addresses. Where appropriate, a comment should
include a short executive summary. In general, comments received will
be posted on <a href="http://www.regulations.gov">http://www.regulations.gov</a> without change, including any
business or personal information provided. Comments received, including
attachments and other supporting materials, will be part of the public
record and subject to public disclosure. Do not enclose any information
in your comment or supporting materials that you consider confidential
or inappropriate for public disclosure.
FOR FURTHER INFORMATION CONTACT: Richard Ifft, Senior Insurance
Regulatory Policy Analyst, Federal Insurance Office, (202) 622-2922,
<a href="/cdn-cgi/l/email-protection#16447f757e776472385f70706256626473776563646f38717960"><span class="__cf_email__" data-cfemail="d381bab0bbb2a1b7fd9ab5b5a793a7a1b6b2a0a6a1aafdb4bca5">[email protected]</span></a>, Jeremiah Pam, Senior Insurance Regulatory
Policy Analyst, Federal Insurance Office, (202) 622-7009,
<a href="/cdn-cgi/l/email-protection#743e110611191d151c5a2415194634000611150701060d5a131b02"><span class="__cf_email__" data-cfemail="3d77584f5850545c55136d5c500f7d494f585c4e484f44135a524b">[email protected]</span></a>, Philip Goodman, Senior Insurance Regulatory
Policy Analyst (202) 622-1170, <a href="/cdn-cgi/l/email-protection#26764e4f4a4f5608614949424b474866525443475553545f08414950"><span class="__cf_email__" data-cfemail="5f0f373633362f711830303b323e311f2b2d3a3e2c2a2d2671383029">[email protected]</span></a>. Persons who
have difficulty hearing or speaking may access these numbers via TTY by
calling the toll-free Federal Relay Service at (800) 877-8339.
SUPPLEMENTARY INFORMATION: On June 21, 2022, the Government
Accountability Office (GAO) issued a report, Cyber Insurance: Action
Needed to Assess Potential Federal Response to Catastrophic Attacks.
(GAO Report).\1\ The GAO Report addressed the catastrophic risk of
cyber incidents and the potential adoption of a federal insurance
response to such cyber incidents. The GAO Report concluded that a full
evaluation of whether there should be a federal insurance response in
connection with catastrophic cyber risks would be best addressed by FIO
(given its statutory authorities, including monitoring of the insurance
sector and assisting the Secretary with administration of Terrorism
Risk Insurance Program) and CISA (given its expertise in connection
with cyber and physical risks to U.S. infrastructure) in a joint
assessment to be provided to Congress. Both FIO and CISA accepted the
GAO recommendation to conduct such a joint assessment.
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\1\ GAO, Cyber Insurance: Action Needed to Assess Potential
Federal Response to Catastrophic Attacks (2022), <a href="https://www.gao.gov/products/gao-22-104256">https://www.gao.gov/products/gao-22-104256</a>.
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On September 29, 2022, Treasury published a Notice in the Federal
Register to request public comment related to cyber insurance and
catastrophic cyber incidents.\2\ The Notice requested that respondents
address certain questions and stated that comments must be received by
November 14, 2022 to be assured of consideration. This notice announces
the extension of the comment period in order to give additional time
for interested parties to provide comments. Responses must be received
by December 14, 2022 to be assured of consideration.
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\2\ Potential Federal Insurance Response to Catastrophic Cyber
Incidents, 87 FR 59161 (September 29, 2022), <a href="https://www.federalregister.gov/documents/2022/09/29/2022-21133/potential-federal-insurance-response-to-catastrophic-cyber-incidents">https://www.federalregister.gov/documents/2022/09/29/2022-21133/potential-federal-insurance-response-to-catastrophic-cyber-incidents</a>.
Steven E. Seitz,
Director, Federal Insurance Office.
[FR Doc. 2022-24476 Filed 11-8-22; 8:45 am]
BILLING CODE 4810-AK-P
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