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ARTICLE · 29 MAY 2015

NAIC Issues Cybersecurity Guidance For U.S. Insurance Industry

McCarthy Tétrault
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On April 16, 2015, the Cybersecurity Task Force of the U.S. National Association of Insurance Commissioners ("NAIC") adopted 12 "Principles for Effective Cybersecurity Insurance Regulatory Guidance" (the "Principles").

CanadaInsurance
Ana Badour
Ana Badour
Nancy J Carroll
Nancy J Carroll
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On April 16, 2015, the Cybersecurity Task Force of the U.S. National Association of Insurance Commissioners ("NAIC")1 adopted 12 "Principles for Effective Cybersecurity Insurance Regulatory Guidance" (the "Principles").  The Principles are aimed at both insurers and the bodies that regulate the industry.

Background

The NAIC's Cybersecurity Task Force was formed in November 2014, and is tasked with assisting the NAIC in addressing issues relating to cybersecurity in the insurance industry.

As stated by NAIC President Monica J. Lindeen, these principles are intended to "serve as the foundation for protection of sensitive consumer information held by insurers as well as insurance producers and guide regulators who oversee the insurance industry."2  The Principles were derived from the Securities Industry and Financial Markets Association's (SIFMA) "Principles for Effective Cybersecurity Regulatory Guidance" issued in October 2014.

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