NAIC International Insurance Relations Committee to Discuss Proposed Comments on IAIS Insurance Sector Cyber Risk Paper
May 3, 2016
Comments are due by May 13, 2016 on the International Association of Insurance Supervisors (“IAIS) Issues Paper on Cyber Risk to the Insurance Sector, the National Association of Insurance Commissioners (“NAIC”) International Insurance Relations Committee (“Committee”) reminded regulators and interested parties today, May 3.
To view the document, click here.
The Committee will meet on May 9 at 3 p.m. (ET) to discuss any draft NAIC comments on the Paper. So far, none have been received.
The Paper’s objectives are to raise awareness for insurers and supervisors of the challenges presented by cyber risk, including current and contemplated supervisory approaches for addressing this risk. The IAIS emphasized that, as an Issues Paper, it represents IAIS supporting material and does not set requirements, but rather builds upon a 2015 survey of IAIS Members on their approaches to cyber risk. It also provides background on current practices, identifies examples, and explores related regulatory and supervisory issues.
To register to participate on the meeting conference call, click here. The NAIC notes that registered participants will receive their dial-in number upon registration and will also receive an Outlook calendar notice. Participants will be connected to the call without operator assistance.
For those without internet access or unable to pre-register, dial (877) 270-2148 or (412) 902-6510 and ask for the “International Insurance Relations (G) Committee” call.
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