{"id":3138,"date":"2023-05-19T12:49:11","date_gmt":"2023-05-19T12:49:11","guid":{"rendered":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-life\/?p=3138"},"modified":"2024-06-30T13:03:49","modified_gmt":"2024-06-30T17:03:49","slug":"insurance-professionals-and-cybersecurity-regulatory-compliance","status":"publish","type":"post","link":"https:\/\/www.amalgamatedbenefits.com\/amalgamated-life\/insurance-professionals-and-cybersecurity-regulatory-compliance\/","title":{"rendered":"Cybersecurity Compliance for Insurance Professionals"},"content":{"rendered":"
\"Cyberattacks<\/figure>\n

Insurance Professionals and Cybersecurity Regulatory Compliance<\/h2>\n

Cyberattacks are occurring at an unprecedented rate. Rapid7\u2019s 2022 Vulnerability Intelligence Report<\/em> noted that the time between when a system vulnerability is disclosed, to when a cyber exploitation occurs is decreasing. In fact, of the many vulnerabilities studied, the exploitation of information occurs within seven days of their public disclosure, which reflects a 12% increase over the same 2021 period and an 87% increase over the same 2020 timeframe.<\/p>\n

Insurance professionals need to be aware of this, as well as the new types of cyber threats that are continuously being detected. These developments are, of course, a concern for regulators, who are stepping up their monitoring of businesses and enforcement actions to ensure that businesses holding sensitive personal information comply with the various federal and state cybersecurity laws.\u00a0<\/p>\n

A Maze of Federal and State Cybersecurity Laws<\/h3>\n

Currently, there are numerous federal and state regulations and standards that demand the attention of businesses within the insurance sector. Some of these include:<\/p>\n