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Tuesday, March 24, 2015

ABA/ABIA Submits Cyber Security Comment Letter to NAIC

ABA and its insurance affiliate ABIA on Monday wrote to the National Association of Insurance Commissioners to endorse its principles for cybersecurity regulation of insurance operations. The groups specifically applauded NAIC’s call for insurers to participate in the Financial Services Information Sharing and Analysis Center and to adopt the National Institute of Standards and Technology’s cyber framework.

ABA and ABIA also encouraged NAIC to add protocols that would maintain “cyber hygiene,” including disclosure of all known software vulnerabilities from vendors, and require software to be patchable or replaceable when vulnerabilities are discovered.
Read the letter.