Federal Communications Commission Collaboration Act of 2013

This bill, despite its 2013 title, is the 'Insure Cybersecurity Act of 2025' and establishes a working group on cyber insurance within the National Telecommunications and Information Administration (NTIA). This group will analyze and address issues in the cyber insurance market, focusing on developing clear information for customers to evaluate policies and for insurers to communicate policy provisions. This standardization and clarification will drive increased adoption of cyber insurance across all business sizes, particularly small businesses, by reducing complexity and uncertainty. The working group's composition includes representatives from CISA, NIST, Treasury, DOJ, FTC, and state insurance regulators, ensuring a comprehensive approach to market development. The money trail for this bill is indirect but significant. The bill does not appropriate specific funds for procurement, but rather creates a regulatory and informational framework. The increased clarity and demand for cyber insurance will lead to higher premium volumes for insurance issuers. Furthermore, as cyber insurance policies often require specific cybersecurity measures for coverage, the demand for cybersecurity products and services will increase. This creates a direct revenue stream for cybersecurity companies as businesses seek to meet policy requirements and reduce their risk profiles. The bill mandates the working group to develop information for customers on how to effectively evaluate policy options, which will likely highlight the importance of robust cybersecurity solutions. Historically, government initiatives to standardize or promote specific insurance markets have led to significant growth. For example, the Terrorism Risk Insurance Act (TRIA) of 2002, which created a federal backstop for terrorism insurance, stabilized and grew the terrorism insurance market. While not directly comparable in scope, the principle of government intervention to clarify and support an insurance market drives adoption. Following TRIA's passage, the market for terrorism insurance expanded, benefiting insurers like Chubb ($CB) and AIG ($AIG) by making coverage more accessible and understandable. Similarly, this bill's focus on clarity will expand the cyber insurance market. Specific winners include major cybersecurity providers such as CrowdStrike ($CRWD), Palo Alto Networks ($PANW), Zscaler ($ZS), Microsoft ($MSFT) with its security offerings, and Google Cloud ($GOOGL) with its cybersecurity services, as businesses will invest more in security to qualify for or optimize cyber insurance. Insurance companies specializing in or offering cyber insurance, such as Cincinnati Financial ($CINF), Travelers Companies ($TRV), and Allstate ($ALL), stand to gain from increased policy sales and market expansion. The bill's focus on small businesses also opens a significant untapped market for both cybersecurity and insurance providers. The next step is the establishment of the working group within 90 days of the bill's enactment. This group will then begin its analysis and information dissemination efforts. The timeline for the working group's output is not specified, but its formation will immediately signal a concerted effort to grow the cyber insurance market. This will likely lead to increased corporate spending on cybersecurity and cyber insurance in the short to medium term as businesses anticipate and react to the new market clarity.