NAIC Adopts Cybersecurity Bill of Rights

On October 15th, as part of national cybersecurity awareness month, the National Association of Insurance Commissioners (NAIC) officially introduced their Cybersecurity Bill of Rights.

As observed by North Dakota Insurance Commissioner and NAIC Cybersecurity Task Force Chair Adam Hamm, “consumers have a right to expect their personal, financial and health information entrusted to the insurance industry is secure. They also deserve to know when a breach occurs so they can safeguard themselves against identity theft or other types of fraud."

The Cybersecurity Bill of Rights was drafted with an emphasis on consumer-friendly terms, to assist policyholders in understanding what may happen in the event their personal information is compromised, and will be made available to state insurance departments for distribution. While the document is intended to provide a general summary of the rights of the customer, the specifics may vary based on state law.

Said Monica J. Lindeen, NAIC President and Montana Insurance Commissioner, “cybersecurity is one of the biggest challenges facing businesses today and this is one of our association's key priorities. Our commitment to strengthening the NAIC's technical and information services infrastructure and our security environment is demonstrated in our current budget, as well as strategic planning for the next few years.”

Contents of the Cybersecurity Bill of Rights includes:

•       The rights of the customer.

•       A set of standard definitions of relevant terms.

•       A list of related links, to sites providing additional details and helpful tips.