The White House will face cyber challenges with Apple, IBM and CEOs

WASHINGTON, Aug 24 (Reuters) – The White House hosts an event on Wednesday that will bring together U.S. technology companies to discuss cybersecurity challenges following a series of high-profile hacking incidents in earlier this year, people familiar with the event. he told Reuters.

It comes as Congress weighs in on new legislation on data breach notification laws and the regulation of the cybersecurity insurance industry, historically regarded as two of the most consistent policy areas within the field.

The guest list includes the CEO of Amazon.com Inc. (AMZN.O), Andy Jassy, ​​the CEO of Apple Inc. (AAPL.O), Tim Cook, the CEO of Microsoft Corp. (MSFT). O), Satya Nadella, the CEO of Google (GOOGL.O), Sundar Pichai and IBM. (IBM.N), chief executive Arvind Krishna, according to two people familiar with the event.

Another said the topics of discussion will include ransomware, critical infrastructure, supply chain security, cybersecurity education and data breach insurance policy.

Executives from energy services company Southern Co (SO.N) and financial giant JPMorgan Chase & Co (JPM.N) are also expected to attend the event, according to Bloomberg.

One person familiar with the event said participating companies are expected to make public commitments to improve IT security measures and for additional workforce training.

The event will feature senior cybersecurity officials from the Biden administration, including newly confirmed national cybersecurity director Chris Inglis, and national security secretary Alejandro Mayorkas, to lead various conversations with industry representatives.

Although the White House has continuously intervened in the private sector for months over possible new cybersecurity rules, the event scheduled for Wednesday is unique in its inclusion in the insurance industry, according to three people familiar with the event. .

It will be attended by the CEO of real estate and accident insurer, Travelers Companies Inc (TRV.N), Alan Schnitzer, they said.

Insurance companies play an important role in covering damages associated with data breaches. Experts argue that influencing insurance market policies around cyberattacks could bring widespread improvements to cyber defense systems throughout private industry.

“The increase in the use of cyber insurance over the last ten years has been an unfortunate stimulus for ransomware gangs: it has encouraged more attacks, as insured victims are usually quite willing to quickly activate rescue payments. knowing they will be reimbursed by insurance, ”said Dmitry Alperovitch, president of the Silverado Policy Accelerator.

Ransomware functions by blocking an infected computer system, which typically disrupts services to workers or customers, until extortion is paid to hackers.

Christopher Bing reports to Washington; Edited by Matthew Lewis and Dan Grebler

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