The US government should explore new incentives for companies to invest in cybersecurity instead of focusing on regulation, a cybersecurity trade group said.
The Internet Security Alliance (ISA), made up of IT vendors and customers, called on the US government to abandon old regulatory approaches in favor of incentives such as cybersecurity insurance, awards programs and caps on legal liability for companies that adopt cybersecurity best practices.
The alliance, in a [white paper] said legislation that requires the US government to create cybersecurity standards, including the Improving America's Security Act passed by the US Senate in mid-March, takes the wrong approach. The Improving America's Security Act would authorize the US Department of Homeland Security to develop standardization and certification programs for US critical infrastructure, including the Internet.
"That approach will not work ... due to factors within the Internet itself," said Larry Clinton, president of the ISA. "The Internet is inherently international, it changes much too quickly, and it's under constant attack."
By contrast, a regulatory approach would be limited to US-based divisions of companies, and it's slow to react to new threats, Clinton said.
Instead, the US government should encourage companies to invest in cybersecurity and adopt best practices already outlined by a number of private organizations, he added. Incentives that reduce costs would help companies get over the attitude that investing in cybersecurity is a "cost centre," he said.
"Government regulations can't keep up with Internet threats, but the profit motive can," Clinton added.
The incentives outlined in the ISA white paper could encourage companies to invest in cybersecurity not only in their US divisions but also in their foreign ones, Clinton said.
Among the proposed incentives:
- Companies following best practices should be able to buy additional insurance for cybersecurity-related events. Some companies have deferred investments in cybersecurity because they are concerned that they aren't protected from liability, the white paper says.
- The US government should limit legal liability for companies following best practices.
- US government agencies should set cybersecurity standards in its procurement practices, creating new business opportunities for companies that follow best practices.
- The U.S. government should establish an awards program recognizing companies with strong cybersecurity programs.
"What we need to do is get more people to adopt [best practices]," Clinton said. "These investments are not being made aggressively enough."
The ISA is not calling for fewer penalties for cybercriminals or fewer consumer protection laws, Clinton said. "We're not saying, do less," he said. "We're saying, do more."
The ISA is a collaboration of the Electronic Industries Alliance and Carnegie Mellon's CyLab and works closely with the CERT Coordination Center. ISA helps organizations in several industries develop best practices in Internet security.
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Read up on the latest ideas and technologies from companies that sell hardware, software and services. - White PaperJoin Lee Benjamin, a Microsoft Exchange MVP and Ryan Shipkowski, network administrator for Matthews, to discuss the process and ROI of implementing an email archiving solution, with emphasis on a case study from Matthews International.
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Discover how SOA can create smarter outcomes for your business.
Attend and learn:
- How SOA is helping leading companies to become more agile
- Where you should be applying SOA processes in your company
- The top SOA implementation mistakes to avoid
Click here for more information.
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Best Practice in Building an Integrated Information Management Strategy
Discover the business value that creating an integrated information platform can bring. Learn how to provide consistent, accurate information to all stakeholders within your business network. Integrate vital data from disparate sources and deliver a trusted information foundation. Read on to uncover the stepping-stones to your new information management strategy.
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