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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.

About the NAIC

The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally. NAIC members, together with the central resources of the NAIC, form the national system of state-based insurance regulation in the U.S. For more information, visit


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