Pennsylvania governor Josh Shapiro has signed into law a bill designed to safeguard the insurance industry from cyber threats.
Pennsylvania Insurance Data Security Act, also known as House Bill 739, was signed last week as Act 2 of 2023 after it passed both the Pennsylvania House and Senate with unanimous, bipartisan support.
Under the new law, insurance licensees, including companies and individuals (with certain exceptions for small businesses), are now required to perform thorough risk assessments to identify potential cyber threats and determine the likelihood and potential damage associated with these threats.
