FOR IMMEDIATE RELEASE
Chief insurance supervisors highlight resiliency and risk mitigation
WASHINGTON, D.C. (Sept. 10, 2015) — Members of the National Association of Insurance Commissioners (NAIC) joined Treasury Deputy Secretary Sarah Bloom Raskin and security experts to discuss cybersecurity issues impacting insurance consumers and markets at today's forum, Managing Cyber Risk and the Role of Insurance. NAIC President and Montana Insurance Commissioner Monica J. Lindeen provided welcome remarks.
“The evolving threat of cyberattacks and insurer data breaches is persistent, and forums like this one give our members insight to better guide our policymaking as we respond to threats and breaches of the companies we regulate,” Lindeen said. “We take seriously our responsibility to do everything we can to protect policyholder information from malicious use.”
More than 300 individuals attended the symposium including more than 30 regulators from state insurance departments across the country. The forum, hosted by Center for Strategic and International Studies (CSIS), included a keynote address by Deputy Secretary Raskin, a panel on the Cyber Threat Landscape and a second panel on Financial Sector Cyber Risk Management.
“The challenge for cyber risk management for insurers goes well beyond that of other businesses,” said panelist Adam Hamm, North Dakota Insurance Commissioner and NAIC Cybersecurity (EX) Task Force Chair. “Today's criminals target insurers because they keep personal, financial and health information.”
NAIC CEO Senator Ben Nelson offered closing remarks. “State regulators identified the threat to our sector early, and have worked continuously through the NAIC to develop the tools and resources state insurance departments need to protect consumers.”
For more information, visit the NAIC's special web section on cybersecurity.