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What Is The NAICS System Treat Cybersecurity?

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Introduction
The reason why NAICS system doesn’t treat cybersecurity as an industry is that it doesn't know how to give businesses cyber insurance regarding cybersecurity. Cyber liability insurance has started and is off to a good start and it’s also expected to grow dramatically over time as business gradually become more aware ("Cybersecurity", 2016), but the current policies that are in place does not adequately cover any of the cyber attacks that plague businesses today. When more cyber systems fail due to cyber attacks, is when business start to become aware of these issue and want to get cyber insurance. Awareness is growing, but as stated before cyber insurance has not caught up to cyber security and therefore their policies do not cover or represent most of the issues that plague the cybersecurity world. NAICS does not treat cybersecurity as industry because the policies and insurances have yet to match the industry itself. …show more content…

SIC codes are four-digit numerical codes assigned by the U.S. government to business establishments to identify the primary business of that establishment ("What is a SIC Code?", 2016). This classification was set forth in attempt to collect, present, analysis, promote and compare business statistical data which covers all economic activities. NAICS codes will also have information on the size of the business, its annual revenue and just general information about that company. Having these codes also allows you do business on a federal level which can open many doors to

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