This week the EIOPA is the European supervisory authority for Insurance and Occupational Pensions set out its priorities for 2020.

← Back to Blog

This week the EIOPA is the European supervisory authority for Insurance and Occupational Pensions set out its priorities for 2020. One being to develop the strategy for cyber underwriting and to harmonize regulatory supervision across Europe.

This means promoting appropriate cyber underwriting and risk management practices. Among others, investigating the issues of non-affirmative cyber exposure and accumulation risks, investigating cyber underwriting as a separate line of business and sharing cyber incident information. This is going to take time, but it’s a further example of a regulator setting out its vision for cyber security oversight.

Cyber insurance is a growth market and with the impact of cyber attacks on underwriting, a contentious subject. The pensions sector is the biggest investor in the equity, bond and capital markets, they have a significant voice in setting cyber security standards and risk management practices.

Whilst the strategy is setting the direction of travel for 2020. The EIOPA is a strong regulator in Europe, as the SEC and DoD are in the US.

(https://lnkd.in/ek4DVdv)

View Original Post
https://www.linkedin.com/feed/update/urn%3Ali%3AugcPost%3A6634004121475182592