Globally, cybersecurity threats are on the rise and there is a growing concern over the impact that cybersecurity incidents have on the financial sector as a whole, including the insurance sector. With the growing use of technological innovations and the use of FinTech, personal data is now more readily available and subject to cyber-attacks. This consultation call on Thursday, 26 September 2019, and explored key issues with regard to cyber threats and incidents in the insurance sector, regulation and supervision of cyber risks as well as the applicability of the ICPs to cybersecurity, drawing from the recent IAIS Application Paper and Issues Paper published on cyber risk.
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