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Regulatory Update: NAIC Summer 2021 National Meeting

Data Matters

Prior to the final vote to approve the changes, New Mexico Superintendent of Insurance Russell Toal made a motion to delay the implementation of these proposed changes by one year to December 31, 2022. NAIC Proposes New Letter Committee to Address Innovation, Technology, and Cybersecurity in the Insurance Sector.

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A Cyber Insurance Backstop

Schneier on Security

In the first week of January, the pharmaceutical giant Merck quietly settled its years-long lawsuit over whether or not its property and casualty insurers would cover a $700 million claim filed after the devastating NotPetya cyberattack in 2017. 11, 2001, terrorist attacks. The 9/11 attacks cost insurers and reinsurers $47 billion.