In issuing the Cybersecurity Executive Order last February, President Obama declared that the “cyber threat is one of the most serious economic and national security challenges we face as a nation” and that “America’s economic prosperity in the 21st century will depend on cybersecurity.” Now, important benchmarks in implementing this Executive Order have been reached. On October 22, 2013, the National Institute of Standards and Technology (NIST) issued its Full Preliminary Draft of the national Cybersecurity Framework — a compilation of security best practices required by the Executive Order. The Departments of Commerce, Treasury and Homeland Security have made their recommendations for incentives to promote compliance with the NIST framework and are working to implement these incentive. The Department of Defense (DoD) has issued its Final Rule promoting the sharing of cyber-threat information among contractors and the DoD.
BakerHostetler, Lockton and the Chertoff Group hosted a webinar discussing the President’s cyber-security executive order and its anticipated impact on U.S. businesses. Topics covered included:
- Threats analysis — cyberterrorism, industrial espionage, hacktivists
- Potential impact of the NIST Cybersecurity Framework and the DoD Final Rule on critical infrastructure companies
- Why does government view cyber insurance as a key incentive for framework adoption and is this feasible?