Federal and state efforts to deter cyber threats are being discouraged by large companies because in most cases they will raise compliance costs, according to a top insurance industry official.
Peter Foster, executive vice president of Willis North America and the broker's resource for global network security and privacy, made the observation in the wake of a Senate panel's action on legislation that will give U.S. officials strong authority to combat computer espionage and theft of valuable commercial data.
The bill, reported out by the Senate Intelligence Committee Tuesday, must be approved by the full Senate and reconciled with similar legislation that passed the House of Representatives in April.
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