Small Cyber Insurers Worry Regulators

(+1 rating, 1 votes)

Loading...

4,592 views

---

Do cyber insurers understand the risks they're taking on?

Adam Hamm, North Dakota's Commissioner of Insurance, isn't so sure. During a session at the Property/Casualty Insurance Joint Industry Forum, Hamm, who is also the chair of the NAIC's task force on cybersecurity, said he and other regulators "have concerns about smaller or medium-size companies that are selling these products." Here, he explains that data from an annual statement supplement will help regulators get their arms around the problem.

Other videos you might like:

• EP. 43: Part 1 – How Should Insurers Be Thinking About Digital Privacy Post-Roe v. Wade?
• EP. 32: Education Providers Face Challenges With Growth in Cyber Threats, Insurance Costs
• EP. 30: Insurers Grapple With Uncertainty Around Catastrophic Cyber Risk
• EP.25: These Women Are Fighting Cyber Crime and Cybersecurity’s Gender Divide