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Don't take ISO. Let the market sort it out, after the governement provides the right incentives, and maybe provides some minimal baseline. For example, the go
by hyperman1 6y ago
Don't take ISO. Let the market sort it out, after the governement provides the right incentives, and maybe provides some minimal baseline.
For example, the gov gives huge fines, and pierces the corporate veil.
Then insurers insure the risks for a data breach. They calculate the expensive premium, and lower it if you do what the consider the right thing, e.g. some ISO guidelines.
Now incentives are aligned: Corporations secure their infra to avoid expensive premiums.
Insurers give correct security guidance. If they overbear, they lose customers. If they are too lax, they pay huge insurance claims.
The governement's job is to make sure nobody is asleep at thehelm. After a while, make the insurance mandatory.
Basically, it's what works for fire insurance.
- jrace 6y agoBut that is how it already works, Equifax was fined $700,000,000 - very little of which goes to the people actually affected, and EFX is still operating as strong as ever. There are data-breach insurers already. Again, that has not changed anything.
- hyperman1 6y agoThat's why the government should punish more harshly. They should be sending the message: Stop this behaviour. The Equifax message was more like: Carry on, it's worth the risk.