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Friday, 12 April 2019 15:09

Proposed ISO standard on cyber insurance is ‘premature and inappropriate’ according to FERMA

The Federation of European Risk Management Associations (FERMA) has expressed concern about the ISO/IEC 27102 ‘Information Security Management Guidelines For Cyber Insurance’ standard, which is currently under development.

FERMA says that the proposed standard is “Premature and inappropriate in its current form given the fast pace of technological development” and also states that “No other insurance product is the subject of an ISO standard”.

FERMA members, the UK risk management association Airmic, French association AMRAE and Belgian association BELRIM, and insurance industry representatives have also expressed concerns about the project.

FERMA has urged other member associations to help ensure their national standardization body is aware of the concerns of the whole insurance market.