Cyber security model law may raise costs, risks: Fitch

A new model statute dealing with cyber security and nearing
final approval by the National Association of Insurance
Commissioners (NAIC) is likely to raise insurer's operating
costs as well as their exposure to penalty and compliance risks,
Fitch Ratings said today.
The model statute on data security is similar to a New York State
rule thattook effect in March and applies to over 3,000 insurers, Fitch
said in a report. Any carrier that complies with the Empire
State's mandates...