Public Consultation: Application Paper on Supervision of Insurer Cybersecurity

Comments due by 13 August 2018 at 24:00 Basel time (Central European Summer Time)

Background Information:

Thank you for your interest in the Application Paper on Supervision of Insurer Cyber Security.

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 also notes that insurers are invited to consider this Application Paper, to assist in developing and implementing good cyber security practices in their organisations

Under IAIS procedures an Application Paper can provide additional material related to one or more ICPs that help with practical application of ICPs, but an Application Paper is not binding and does not establish standards.  Application Papers can provide examples of good practices, as well as further advice and recommendations on how ICPs may be implemented.

The IAIS is now seeking feedback on this draft Application Paper through public consultation. Feedback on this draft Application Paper is invited by 13 August 2018 at 24:00 Basel time. 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 no longer be possible to submit any further comments.

In addition, a public background call will be held via teleconference on 16 July 2018 to discuss the draft Application Paper and receive public feedback. Click here for details.

How to provide feedback:

Please use the Consultation Tool available at the consultation page of the public section (accessed below) to provide your comments. Instructions for use are available when you access the Tool. Please note that only comments submitted through the Tool will be considered. All comments will be published on the IAIS website unless an option in the Tool to keep comments confidential is chosen.

Please note that some formatting (e.g. bullet points) may not be preserved when copying and pasting your comments into the Consultation Tool from other software such as Microsoft Word.