The National Association of Insurance Commissioners has launched three new initiatives to fight cybersecurity risks.

They are:

• A Consumer Cybersecurity Bill of Rights that is out for public comment. The document is intended to set standards for helping consumers if their personal information is taken.
• A joint effort with state insurance regulators to check whether insurance companies are taking appropriate steps to protect sensitive data.
• A forum with the Center for Strategic and International Studies on Sept. 10 in Washington, D.C. The session, called “Cyber Risk Management and Insurance,” will cover cyber risks faced by American businesses and consumers.

“Ramping up our efforts in this critical area will help state insurance departments better address both the threat and responses to cyber breaches,” said Monica J. Lindeen, NAIC president and Montana insurance commissioner. “Understanding what regulators, consumers and companies can do to craft best practices will help minimize the impact on insurance consumers and the insurance industry in the long term.” Read more