Consultation on Issues Paper on Cyber Risk to the Insurance Sector

Public Consultation

Comment due by 13 May 2016 at 24:00 Basel time (Central European Summer Time)

Thank you for your interest in the Issues Paper on Cyber Risk to the Insurance Sector.

The objectives of the paper are to raise awareness for insurers and supervisors of the challenges presented by cyber risk, including current and contemplated supervisory approaches for addressing this risk.  As an Issues Paper, the paper represents IAIS supporting material and as such does not set requirements.  Building on a 2015 survey of IAIS Members on their approaches to cyber risk, it provides background on current practices, identifies examples, and explores related regulatory and supervisory issues and challenges.

The IAIS is now seeking feedback on this draft Issues Paper through public consultation. Feedback on this consultative document is invited by 13 May 2016, 24:00 Basel time. Only comments submitted via the Tool will be considered. Feedback received by this deadline will enable the IAIS to further develop the paper for finalisation. After this deadline, the Consultation Tool will be closed and it will not be possible to submit any further comments. A public discussion of the comments and proposed resolutions will be organised for late June or early July. 

How to provide feedback:

Please use the Consultation Tool available on the consultation page of the IAIS website to provide feedback.

Please note:

1. A commenter can provide feedback on each paragraph and annex in the draft.
2. All comments will be published on the IAIS public website unless an option in the Tool to keep comments confidential is chosen.
3. Formatting, such as bullet points, may not be kept when you copy and paste your feedback into the Tool from other software, such as Microsoft Word.
4. Your comments should be specific and concise. Please clearly state your comment and describe the specific issue your comment is addressing.
5. Members can use the consultation page on the Members-only website to avoid entering profile information.