On 17 January, EIOPA met with the US Federal Insurance Office and the European Commission as part of an information exchange initiative known as the EU-U.S. Insurance Project, to discuss the issue of cyber security. Cyber security is a growing and evolving challenge for all sectors, but in particular for insurers who collect and manage large stores of personally identifiable information from consumers, claimants and beneficiaries.
Current initiatives underway in the EU and the US for monitoring the risk of cyber-attacks, protecting critical infrastructure and engaging with insurance sector stakeholders were addressed at the convening. The EUU.S. Insurance Project aims to conduct further sessions throughout the course of 2017 to obtain further expert and technical input with a view to enhancing international best practices in the field of cyber security.
A link to the EIOPA press release is here.