Update on Cybersecurity Issues – New York Section 308 Letter & NAIC Spring National Meeting

Update on Cybersecurity continues to be an emerging regulatory issue in the insurance industry, as evidenced by recent actions taken by the New York Department of Financial Services and the National Association of Insurance Commissioners. Specifically, in a letter dated March 26, the DFS followed up its February 2015 Report on Cybersecurity in the Insurance Sector by requesting information on insurers’ cybersecurity safeguards. Additionally, the NAIC’s Cybersecurity (EX) Task Force held its first public meeting, at which it announced its work plan for 2015.

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