What this bill does
AI plain-language summaryThis bill requires a government agency called the National Telecommunications and Information Administration to create a working group focused on cyber insurance, which is insurance that covers losses and costs from cyberattacks. The working group would study problems in the cyber insurance market and help customers understand how to compare different policies, while also helping insurance companies communicate more clearly about what their policies cover. The group would also explain common insurance terms in simple language, including what is and isn't covered in areas like ransomware attacks, ransom payments, reputation damage, and stolen intellectual property. When the working group finishes its work, the agency must publish helpful resources and any recommendations for people involved in cyber insurance.
Introduced
January 24, 2025
Policy Area
Science, Technology, Communications
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