Cybersecurity Standards for the Insurance Sector – A New Patchwork Quilt in the US?

The entering into effect of multiple state laws in this area may present challenges for insurance providers operating in states where such cybersecurity requirements are provided for.
Major data breaches in recent years are spurring state legislators and regulators across the US into action. Of particular concern to state-level policymakers and enforcement authorities are business practices that in their view may contribute to security incidents.

In the past two years, multiple state bills that have been introduced in the US to provide for cybersecurity requirements and standards to the insurance sector, with recent legislative activity taking place in particular within the States of Ohio, South Carolina, and Michigan.

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