The Knowledge Group Has Scheduled a Live Webcast on Understanding Cybersecurity AwarenessEvent Synopsis: Cybersecurity threats are one of the greatest challenges facing businesses today. Many businesses, including banks and insurance companies have woefully inadequate security systems to ensure protection of private consumer information. In 2014 Crackers stole personal, financial, and medical information of 80 million customers insured with Anthem Inc., the second largest insurance company in the US. Following this breach, in July 2015, the Cybersecurity Task Force of the National Association of Insurance Commissioners (NAIC) released a draft version of a 'Bill of Rights' that outlines the Cybersecurity Protection Rights of Insured Consumers to know what personal information has been collected, how it is used and shared, the right to receive written notice of a breach, and assurance that their personal data will be protected by insurance companies and other entities regulated by state insurance departments against loss, undue exposure, and data breach. Personal information of insured consumers has been vulnerable to data breaches because it often includes social security numbers, financial data, addresses, and even medical information. Although the Bill of Rights will not be legally binding on states, it may encourage state legislators and regulators to augment insured consumer data and breach protections. Several obligations are more stringent than most state and federal breach notification laws. For example, the insured would have the right to receive a minimum of two years of identity theft protection from the regulated organization and, an insurance company must notify the insured of any data breach within 60 days. Despite the changes, a number of insurance organizations believe that the Bill of Rights could be misinterpreted by consumers, that it fails to address some inconsistencies with state laws, and could entitle consumer protections and insurance company obligations beyond those afforded by federal and state laws. A deeper and more comprehensive understanding of the NAIC Bill of Rights is critical if insurance companies want to comply with the law and minimize risks to insured consumers. Therefore, it is necessary that insurers develop sound compliance programs and regularly audit and test systems to ensure that they are robust and conforming. In this two hour LIVE Webcast, a panel of distinguished professionals and thought leaders brought together by The Knowledge Group will help insurance company officials understand the fundamental obligations they face in complying with the NAIC Bill of Rights. Speakers will provide an in-depth discussion of the cybersecurity protection rights of insured consumers and also offer best practices in developing and implementing effective compliance programs. Key topics include: · The NAIC Bill of Rights for Insured Consumer Cybersecurity Protection · Cybersecurity Trends the Insurance Industry · Cybersecurity Risks and Pitfalls · Recent Litigation in Insurance Industry · Stringency and Inconsistencies · Regulatory Forecasts · Best Cybersecurity Practices Speakers/Faculty Panel SurfWatch Labs Adam Meyer Chief Security Strategist Kane Russell Coleman & Logan PC Kenneth Johnston Partner Kane Russell Coleman & Logan PC Larry Bowman Director Becker College Patty Patria Chief Information Officer For an updated list of the faculty panel, please visit: https://theknowledgegroup.org/ About The Knowledge Group/The Knowledge Congress Live Webcast Series The Knowledge Group brings together the world's leading authorities and industry participants through informative two-hour webcasts that study the impact of changing regulations and help businesses succeed through proper regulatory compliance. Visit http://theknowledgegroup.org/ End
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