IAIS Publishes Paper on Supervision of Insurer Cybersecurity
IAIS published an application paper on the supervision of insurer cybersecurity, along with the resolution of comments on the draft application paper. The consultation on the paper ran from June 2018 to August 2018. The application paper provides further guidance to supervisors seeking to develop or enhance their approach to supervising the cyber risk, cybersecurity, and cyber resilience of insurers.
Insurers are invited to consider the recommendations and examples in the application paper, to assist in developing and implementing good cybersecurity practices in their organizations. The application paper is generally principles-based and builds on frameworks and guidance from multiple sources, including the "G7 Fundamental Elements of Cyber Security for the Financial Sector," the related "G7 Fundamental Elements for Effective Assessment of Cybersecurity for the Financial Sector," and the CPMI-IOSCO guidance on cyber resilience for financial market infrastructures. The paper focuses on supervision of insurer cybersecurity. It does not cover cyber insurance products nor the use of cyber insurance in the reduction of residual risks.
Keywords: International, Insurance, Insurer Cybersecurity, Cyber Risk, IAIS
Related Articles
|
News
EBA Single Rulebook Q&A: Fourth Update for March 2019EBA published answers to five questions under the Single Rulebook question and answer (Q&A) updates for this week.
March 22, 2019
WebPage
Regulatory News
|
|
News
ECB Updates Validation Checks and List of Identifiers Under AnaCreditECB updated the AnaCredit validation checks (Version 1.4) and the list of national identifiers (version 2.4) for AnaCredit reporting.
March 21, 2019
WebPage
Regulatory News
|
|
News
BCBS Publishes Results of the Basel III Monitoring ExerciseBCBS published results of the Basel III monitoring exercise based on data as of June 30, 2018.
March 20, 2019
WebPage
Regulatory News
|
|
News
EBA, FCA, and PRA Agree on MoU Template for Supervisory CooperationEBA, FCA, and PRA announced that they have agreed on a template for the Memorandum of Understanding (MoU) that sets out the expectations for supervisory cooperation and information-sharing arrangements between UK and EU/European Economic Area national authorities.
March 20, 2019
WebPage
Regulatory News
|
|
News
HKMA Publishes CoP on Loss-Absorbing Capacity Requirements of BanksHKMA issued, in relation to the Financial Institutions Resolution (Loss-Absorbing Capacity Requirements—Banking Sector) Rules (LAC Rules) a chapter of a code of practice (LAC CoP) under section 196 of the Financial Institutions Resolution Ordinance (FIRO).
March 20, 2019
WebPage
Regulatory News
|
|
News
EBA Publishes Reports Monitoring the Implementation of Basel III in EUEBA published two reports measuring the impact of implementing the final Basel III reforms and monitoring the implementation of liquidity measures in EU.
March 20, 2019
WebPage
Regulatory News
|
|
News
BCBS Publishes Results of Survey on Proportionality in Bank RegulationBCBS published a report presenting the results of a survey conducted on proportionality practices in bank regulation and supervision.
March 19, 2019
WebPage
Regulatory News
|
|
News
US Agencies Adopt Interim Rule to Facilitate Transfers of Legacy SwapsUS Agencies (FCA, FDIC, FED, FHFA, and OCC) are adopting and inviting comments on an interim final rule.
March 19, 2019
WebPage
Regulatory News
|
|
News
EBA Updates List of Other Systemically Important Institutions in EUEBA updated the 2018 list of other systemically important institutions (O-SIIs) in EU. The list also reflects the additional capital buffers that the relevant authorities have set for the identified O-SIIs.
March 19, 2019
WebPage
Regulatory News
|
|
News
HKMA Expects Banks to Manage Risks Related to Crypto-Asset ExposuresHKMA issued a statement announcing that it expects authorized institutions to take note of the BCBS statement on crypto-assets and its prudential expectations.
March 18, 2019
WebPage
Regulatory News
|
