The Global Federation of Insurance Associations (GFIA) has provided feedback to the Organisation for Economic Cooperation and Development (OECD) on its next steps on cyber issues.
GFIA said the cyber insurance market is a key resiliency tool, which continues to grow as insurers innovate to address consumer needs and market demands.
GFIA highlighted that there are challenges to market growth,which the industry continually monitors and works to overcome. Among these challenges are educational and awareness gaps, a risk landscape that is continually evolving and a need for more data.
GFIA suggested a number of questions for the OECD to consider when reviewing the broader cybersecurity landscape to ensure policy and regulation support an open market.
GFIA’s full submission is available here.