L-R: Coraleine Kitt,Krishna A. Jani, and Anthony Gruzdis of Flaster/Greenberg. Courtesy photos
The Pennsylvania Insurance Data Security Act (the act) was introduced on March 9 by Reps. Kevin J. Boyle and Tina Pickett. (2023 Bill Text PA H.B. 739). The legislation adopts a national model for insurer cybersecurity mandating that insurance entities implement new cybersecurity protections to better safeguard nonpublic information from nefarious threat actors. In recent years, insurance companies have been hot targets for malicious attackers because they collect and store vast amounts of personal information and other sensitive data about individuals. See Karen Hoffman, "Insurance companies increasingly fall prey to cyberattacks," SC MEDIA, (last visited June 9). Additionally, insurance companies often maintain lists of insured entities that carry cyber insurance. This particular aspect of the insurance business makes them attractive targets for cyber attackers because businesses that are cyber-insured are more likely to have the financial means to pay in the event of a ransomware attack. As a result, the bill aims to address the growing number of successful cyberattacks on insurance companies by requiring a comprehensive approach to implement effective cybersecurity measures.
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