By Rob Fischer
Policy Project Manager, Casualty
October brings cooler weather, football, changing leaves, pumpkin-flavored everything—but most importantly, Cybersecurity Awareness Month.
The trouble with cybersecurity is that the threats never sit still. Just when we think we have a handle on the latest phishing scams, a new tactic appears. Ransomware evolves. Artificial intelligence creates new opportunities and new vulnerabilities. Cybercriminals adjust, regulators respond, and the cycle begins again. So, for this year’s Cybersecurity Awareness Month, let’s take a look at some of the cyber work underway at the National Association of Insurance Commissioners (NAIC).
That constantly shifting landscape is exactly what the NAIC’s Cybersecurity (H) Working Group has been tackling over the past year. Through discussions of cyber threats, cyber insurance trends, and ways to streamline cybersecurity event reporting across states, the group has been helping regulators prepare for risks that continue to grow in both scale and complexity.
One of the most recent and significant initiatives of the working group has been the development of a centralized cybersecurity event notification portal to streamline cyber incident reporting. After soliciting extensive feedback from regulators and stakeholders on issues such as confidentiality, security, and data governance, the working group revised and formally adopted the portal project document at NAIC’s 2026 Spring National Meeting.
The working group also continues to monitor cyber threats and cyber insurance market trends through presentations most recently on artificial intelligence and cyber claims data. Keeping an eye on the working group is a great way to monitor current trends in the industry space with regards to cybersecurity and cyber insurance, as well as how regulators are looking to respond to evolving threats.
Another resource to stay informed on cybersecurity and cyber insurance is the Academy’s Committee on Cyber Risk’s Cyber Risk Toolkit. The Casualty Practice Council committee continues to make regular updates and release new chapters to the collection of timely analyses. The toolkit contains a number of focused papers exploring specific areas of cyber risk for actuaries and others, including a thorough introduction to cyber insurance; a look into the security concerns related to digital assets and cryptocurrency; a discussion around the growth of ransomware attacks; reflections on international cyber reinsurance; and more.
The committee is currently working to update its introductory paper and introduce new chapters on AI in Commercial Insurance, and Insurance Linked Securities and Catastrophe Bonds in the cyber space.
As cyber threats continue to change and evolve, the committee, as well as the Academy more broadly, will publish more on trends and threats in the market to keep Academy members, regulators, insurers, businesses, and the public informed. For the latest insights into the topic, join the committee’s annual webinar, “Cyber Risk in the Age of AI: Market Trends and Emerging Challenges” on Oct. 29. This annual event helps keep us all up to date on the ever-shifting cybersecurity landscape. Additional resources can be found on the Academy’s Policy Forum.