Concerning Cybersecurity Insurance; To Establish The Arkansas Self-funded Cyber Response Program And The Arkansas Cyber Response Board; And To Create The Arkansas Self-funded Cyber Response Program Trust Fund.
Impact
The bill mandates participation by all counties, municipalities, and school districts in Arkansas, creating a systematic and standardized approach to addressing cybersecurity incidents. The Arkansas Cyber Response Board will oversee the program's administration, establish minimum cybersecurity criteria, and determine the coverage limits for claims resulting from cyber incidents. This legislative development seeks to ensure that governmental entities can adequately prepare for and respond to hacking threats while also aiming for significant cost savings in managing cybersecurity risks.
Summary
House Bill 1780, known as the Arkansas Self-Funded Cyber Response Program Act, aims to establish a self-funded program for cybersecurity insurance and create the Arkansas Cyber Response Board. This initiative responds to the growing threat of cyberattacks against governmental entities such as counties, municipalities, and school districts in Arkansas. The program intends to alleviate the financial burden of purchasing traditional cybersecurity insurance, which many government entities find prohibitive, by creating a trust fund capitalized by premiums collected for coverage under the program.
Sentiment
Sentiment around HB1780 seems broadly supportive among legislators who emphasize the necessity of a proactive approach to cybersecurity. Proponents argue that the measure not only provides essential protection for public entities but also promotes fiscal responsibility by pooling resources. However, some voices raise concerns over the sufficiency of the coverage limits imposed and the ongoing compliance requirements that could be difficult for smaller entities to meet within the established timeframes.
Contention
Despite the program's design to enhance cybersecurity readiness, there are points of contention regarding its implementation and efficacy. Some opponents question whether the program's self-funded nature will genuinely provide adequate coverage in the face of potentially devastating cyber incidents. Additionally, the criteria for defining cyberattacks and the timelines for compliance to minimum cybersecurity standards may impose challenges for certain governmental entities attempting to navigate the newly established regulatory landscape.
Congratulating Roger Allan Norman, Legislative Auditor For Arkansas Legislative Audit, Upon His Retirement And Commending Him For His Contributions To The State Of Arkansas.
To Recognize The Arkansas Committee Of The National Museum Of Women In The Arts For Thirty-five Years Of Creative Contributions To The Citizens Of Arkansas And Continuous Support Of Women Artists In Arkansas.
To Recognize The Arkansas Committee Of The National Museum Of Women In The Arts For Thirty-five Years Of Creative Contributions To The Citizens Of Arkansas And Continuous Support Of Women Artists In Arkansas.
To Recognize Ralph Wilcox And The Division Of Arkansas Heritage For Their Work In Preserving The Remaining Structures And History Of The Rosenwald Schools In Arkansas.
To Recognize The Arkansas Committee Of The National Museum Of Women In The Arts For Thirty-five Years Of Creative Contributions To The Citizens Of Arkansas And Continuous Support Of Women Artists In Arkansas.
An Act For The Arkansas Minority Health Initiative Of The Department Of Health - Arkansas Minority Health Commission Appropriation For The 2024-2025 Fiscal Year.
Higher education: state universities; creation of a coordinated cybersecurity defense organization and security operations center for this state’s public universities; provide for. Creates new act.
Substitute for HB 2077 by the Committee on Appropriations - Implementing additional reporting requirements for information technology projects and state agencies, requiring additional information technology security training and status reports, requiring reporting of significant cybersecurity audits and changing the membership requirements, terms of members and the quorum requirements for the information technology executive council.
Implementing additional reporting requirements for information technology projects and state agencies, requiring additional information technology security training and status reports, requiring reporting of significant cybersecurity audits and changing the membership requirements, terms of members and the quorum requirements for the information technology executive council.