The White House unveiled its National Cyber Strategy document on Thursday, which offered insight into the Biden administration’s approach to defending against cyberattacks.
The crux of Biden’s plan, which the White House called a “cyber social contract” is to shift the legal burden of cybersecurity protection away from individuals, small businesses and local governments over to the software developers and other large companies that have the expertise and firepower to deal with cyber threats.
"The biggest, most capable and best-positioned actors in our digital ecosystem can and should shoulder a greater share of the burden for managing cyber risk and keeping us all safe,” Acting National Cyber Director Kemba Walden said in a press briefing.
The Biden administration said it would work with Congress and the business community to draft a bill that would establish a safe harbor framework to protect companies that “securely develop and maintain their software products and services.”
However, the legislation isn’t likely to pass within the next year, according to an anonymous senior administration official. Rather, it is part of a longer-term plan.
To brace for a major cyber attack, the document also calls for the establishment of a national insurance backstop. This would allow the federal government to better supplement the current cyber insurance market and aid in recovery by already having a contingency plan in place.
The White House also highlighted the need to defend critical infrastructure by expanding minimum security requirements in certain sectors and streamlining regulations. Notably, ransomware will be treated as a national security threat, not just a criminal issue.
Accordingly, the administration said it plans to invest in expanding the cyber workforce and prioritize research and development in the sector. It also called for international partnerships to fight cybersecurity threats and create secure global supply chains.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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