Unintended Consequences Loom from NAIC’S Cyber Principles
In April, the Cybersecurity Task Force of the National Association of Insurance Commissioners adopted "Principles for Effective Cybersecurity: Insurance Regulatory Guidance—a welcome initiative, providing a minimum threshold of risk management for all insurance carriers, according to Kevin Kalinich, Aon's global practice leader for cyber insurance. But the principles could also have a downside, he told attendees of the Standard & Poor's 2015 Insurance Conference. In an interview with Carrier Management, Kalinich reviewed the possible unintended consequences, talks about how insurer pricing methods have evolved.