The National Association of Insurance Commissioners (NAIC) has responds to meet state insurance department cybersecurity needs, with two draft documents now exposed for comment.
The first is a draft of Principles for Effective Cybersecurity Insurance Regulatory Guidance, developed by the NAIC’s cybersecurity task force.
This document is intended to help state insurance departments identify uniform standards, promote accountability, and provide access to essential information. It also outlines the process for working with the insurance industry to identify risks and offer practical solutions.
The second draft document is the Annual Statement Supplement for Cybersecurity policies, which comes from the NAIC’s property and casualty insurance committee.
Regulators, interested parties and industry representatives have been encouraged to review and provide comments about the exposures by 23 March, which will, in turn, facilitate discussion at the NAIC’s Spring National Meeting in Phoenix at the end of March.
