Insurers Speak Out on What Insurance Companies are Doing in Terms of Preparedness for a Cyber Event and an Examination of What the Role of the Compliance Departments Should Be

July 25, 2016 11:00am

Laurie A. Kamaiko
Sedgwick LLP

Myra E. Lobel
Managing Director
Guy Carpenter & Company‚ LLC

Jodi Hyde
Vice President, Deputy General Counsel
Fidelity & Guaranty Life

David J. Walsh
President and Chief Executive Officer
Amalgamated Life Insurance Company/ASC Holdings


Kara Baysinger

  • Enhanced focus on third-party vendor security
  • Protocols for the detection of cyber breaches and penetration testing
  • Corporate governance related to cyber security
  • Management of cybersecurity issues, including the interaction between information security and core business functions, and written information security policies and procedures
  • Protections against the risks posed by shared infrastructure
  • Information security testing and monitoring
  • Incident detection and response process
  • Integration of information security into business continuity and disaster recovery policies and procedures
  • What should the role of a compliance department be?
  • It appears as though this is mostly an IT concern but there is a regulatory expectation that the control functions, such as compliance, will be overseeing and mitigating risk; What is the role of the control function?
  • What is the role of the legal department?