Insurers warned against cyberattacks

THE Insurance Commission (IC) has ordered all of its supervised entities to take all necessary precautions in the wake of the recent cyberattacks.

Insurance Commissioner Dennis Funa said in a circular letter released on Friday his agency has received reports that some of its regulated entities have been the target of cyberattacks, including but not limited to ransomware and distributed denial of service attacks, which have resulted in data breaches.