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Hamm to testify before US Congress on cybersecurity
 
WASHINGTON, D.C.— North Dakota Insurance Commissioner Adam Hamm will testify before Congress today on emerging issues impacting cybersecurity in the insurance sector. Testifying on behalf of the National Association of Insurance Commissioners (NAIC), Hamm, who is a past NAIC president and chairs the NAIC Cybersecurity Task Force, spoke about the importance of keeping consumer data protected as well as the development of a strong cyber insurance market.

“When it comes to regulation, cybersecurity policies sold to consumers and businesses are scrutinized just as rigorously as other insurance products,” Hamm said in his testimony. “We take very seriously our responsibility to ensure the companies we regulate are protecting customer data and properly underwriting the products they sell.”

The hearing, titled “The Role of Cyber Insurance in Risk Management” will be held by the House Homeland Security Subcommittee on Cybersecurity, Infrastructure Protection and Security Technologies. The purpose of the hearing is to gather information on best practices and effective risk management through the use of cyber insurance.

“Cyber risks continue to grow and the insurance industry has an opportunity to lead in the development of best practices across the entire country,” Hamm testified. “I know the industry will do what it does best – help consumers and businesses manage risk by providing numerous policy choices at different prices.”

Read Hamm’s submitted testimony.

The hearing will live stream here.

More information on the NAIC’s efforts on cybersecurity and insurance is available on the NAIC website.

North Dakota Insurance Department
600 E. Boulevard Ave.
Bismarck, ND 58505-0320
Phone 701.328.2440
Toll free 800.247.0560
Fax 701.328.4880

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