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As recommended by the IAIS in its Issues Paper on Cyber Risk to the Insurance Sector developed by the Financial Crime Task Force and published in August 2016, the IAIS has been developing an Application Paper on Supervision of Insurer Cyber Security. This Application Paper is intended to provide further guidance to supervisors seeking to develop or enhance their approach to supervising the cyber risk, cybersecurity, and cyber resilience of insurers. The draft invites insurers to consider this Application Paper in developing and implementing good cyber security practices in their organisations.
A public background session will be held via teleconference on 16 July 2018 to discuss the draft Application Paper and receive public feedback.
Feedback on this consultative document is invited by 13 August 2018 at 24:00 Basel time (CEST).