[Federal Register Volume 87, Number 216 (Wednesday, November 9, 2022)]
[Notices]
[Page 67755]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-24476]


-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY


Potential Federal Insurance Response to Catastrophic Cyber 
Incidents

AGENCY: Departmental Offices, Treasury.

ACTION: Request for comments; extension of comment period.

-----------------------------------------------------------------------

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: http://www.regulations.gov. 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 http://www.regulations.gov 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, 
[email protected], Jeremiah Pam, Senior Insurance Regulatory 
Policy Analyst, Federal Insurance Office, (202) 622-7009, 
[email protected], Philip Goodman, Senior Insurance Regulatory 
Policy Analyst (202) 622-1170, [email protected]. 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.
---------------------------------------------------------------------------

    \1\ GAO, Cyber Insurance: Action Needed to Assess Potential 
Federal Response to Catastrophic Attacks (2022), https://www.gao.gov/products/gao-22-104256.
---------------------------------------------------------------------------

    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.
---------------------------------------------------------------------------

    \2\ Potential Federal Insurance Response to Catastrophic Cyber 
Incidents, 87 FR 59161 (September 29, 2022), https://www.federalregister.gov/documents/2022/09/29/2022-21133/potential-federal-insurance-response-to-catastrophic-cyber-incidents.

Steven E. Seitz,
Director, Federal Insurance Office.
[FR Doc. 2022-24476 Filed 11-8-22; 8:45 am]
BILLING CODE 4810-AK-P