Re:Schneier: It's Time to Regulate IoT to Improve Cyber-Secu...
by fulafel on Thursday November 16, 2017 @12:56AM
(#15710532)
> I'm not sure it could work for IoT, though, because a lot of IoT devices are made by new companies that probably will not be around long.
If we regulate insurance so that a product needs to be backed by a 10-year liability insurance, it might have 2 good outcomes to fix this:
1) the insurance company might ask a lot of hard questions and require audits, plans, etc
2) the insurance company might require escrow to the iot device's update mechanism in case of bankruptcy, so they can remote-brick the devices
It's unlikely that the reality would be so rosy though - mainly the claims against the insurance would likely be too small in many cases. It might help in 10 years against the biggest ddos botnets. Not nearly as good as direct regulation.
If we regulate insurance so that a product needs to be backed by a 10-year liability insurance, it might have 2 good outcomes to fix this:
1) the insurance company might ask a lot of hard questions and require audits, plans, etc 2) the insurance company might require escrow to the iot device's update mechanism in case of bankruptcy, so they can remote-brick the devices
It's unlikely that the reality would be so rosy though - mainly the claims against the insurance would likely be too small in many cases. It might help in 10 years against the biggest ddos botnets. Not nearly as good as direct regulation.