Zachary Ostro discusses cybersecurity regulatory policy with Life Annuity Specialist
Mindset Senior Director Zach Ostro recently spoke with Life Annuity Specialist regarding how the life insurance industry may soon be required to comply with new cybersecurity regulations meant to stop data breaches.
In an article titled, “Insurers May Soon Face New Rules to Reveal Cybersecurity Breaches”, Ostro outlined what life insurers can expect to see from the Securities and Exchange Commission this year.
“In the long-term, life insurers will see a regulatory regime,” he said.
Ostro also warned companies of the reputational risks associated with a cyber breach stating, “Those costs will be compounded by lawmakers raking executives over the coals in publicly televised hearings.”
Read the full piece here.