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In a recent report, Zurich Insurance Group Ltd. said that the private sector needs to be more active and involved in developing what they consider is now an inadequate global cyber governance framework.

According to the Risk Nexus, Global Cyber Governance: Preparing for New Business Risks, a “comprehensive and functional regime of global cyber security governance is clearly lacking.” The report states that “effective global governance is lacking with regard to cyber warfare issues, such as interstate terrorism and espionage, or cyber attacks on critical infrastructure for political purposes.”

Mike Kerner of Zurich said that cyber governance “is not something that’s up to speed in terms of being able to handle all the emerging technology.” Kerner called for more public-private cooperation and signaled that he is pleased with recent legislation passed by the United States House of Representatives regarding information sharing.

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