Informizely customer feedback surveys

Shop Insurance Canada News

Health-data breaches are a “huge risk” for insurers

By: , Published on , Last Update on December 30, 2016 07:15 PM


Cyber-attacks are increasing and hackers perpetrating data breaches on personal and health-related information present a “huge risk for those in the insurance industry”. That’s according to Kevvie Fowler, national leader of cyber response for KPMG in Canada. At and industry event, Fowler said the long shelf-life of health-related date is a factor, with data kept as long an individual stays alive.

Fowler was speaking as part of a panel discussion at KPMG’s 25th Annual Insurance Issues Conference in Toronto.

Addressing the longevity of health-related date, he said the shelf-life is “Hopefully, infinite, but in reality, as long as the individual who owns the record stays alive,” Fowler told attendees, estimating that would likely be “40 or 50 years on average.”

“medical and insurance information, personally identifiable information, usernames, passwords, anything along those lines,” Fowler said.

“A lot of people in the insurance industry have” all three types of information, he pointed out. And the shelf life of personal and health-related information dwarfs that of other information types, expected to be “a few weeks or a few months tops” before the breach is discovered and records cancelled.

Cyber criminals want data with a long life and they are often “breaking into the banks, they’re walking right by the financial data and they’re downloading personal and health-related information.”

“That’s a massive issue now for organizations,” including those in the insurance industry, Fowler said. These attacks can, for example, mean people are unable to get on a company website, make policy changes or apply for policies, he noted.

“It really brings organizations down to a screeching halt,” Fowler told attendees.

Category: News

shopinsurancecanada.ca


SUBSCRIBE TO OUR NEWSLETTER

Get the latest updates on Ontario insurance rates, multi-line bundle discounts & recent insurance news.

 
Please wait 10 seconds before you submit!

We take your privacy very seriosuly, and hate spam as much as you!

Welcome to Canada’s authoritative source for insurance news, information and rates.

Copyright 2017 ShopInsuranceCanada ShopInsuranceCanada | 1003-60 Bathurst St. Toronto, ON M5V 2P4 Canada | 416-913-0151 | Privacy Policy | Terms & Conditions