Recently, CSC announced the establishment of the Insurance Cybersecurity Advisory Council for life insurance and annuity providers and property/casualty insurers to help mitigate the risk of cyber attacks on the insurance industry. The Council will also collaborate with CSC to promote awareness throughout the industry. The Council’s first meeting is scheduled for January 2012 in Washington, D.C.
Insurers, agents, brokers and consumers are increasingly embracing mobile devices and social networking. At the same time, these new technologies can leave insurers vulnerable to cybersecurity threats. If not addressed, these threats can have a devastating impact on a carrier’s reputation and ability to operate.
President of CSC’s Financial Services Group Ray August said, “By forming the insurance industry’s first Cybersecurity Advisory Council, we will be the catalyst for best-practice sharing and development of technology solutions to address this growing concern. Shareholder and consumer confidence, along with a requirement to pass increasingly complex audit procedures, rely on a company’s ability to safeguard intellectual property and customer data. The Council’s industry leaders will work together to identify the evolving cyber protection needs for insurance, define the most effective ways to combat cyber threats and educate the industry about the need for prevention.”
