Make Sure Your Insurance Records Stay Safe This Summer

Topics: Financial Services Records and Information Management

With summer finally here, it's time for gearing up, heading out, and forgetting about work for a while. And ironically enough, summer is also a great time for cybercriminals to focus on what they do best. Yes, smart thieves know that many staffs are stretched thin.So how can you know you're doing enough to protect your insurance records while you're out of the office?

The National Association of Insurance Commissioners (NAIC) recently released a set of regulatory guidelines. Its goal: Help the insurance industry work with state regulators to create consistent and appropriate cyber security policies.

A quick look at some of the NAIC's suggestions should help you gauge the effectiveness of your current security measures and whether you need a partner to ensure the safety of your vital information.

#1: Provide protections at all times.

The NAIC guidelines state that you should safeguard all documents with personally identifiable information (PII). When considering potential vendors, look for those offering the most secure system of passcodes, encryption and other security measures.

#2: Meet data storage standards.

According to the guidelines, "cyber security regulatory guidance for insurers and insurance producers must be consistent with nationally recognized efforts." Given the ever-expanding universe of laws and best practices, how can you possibly keep up? Answer: Engage a knowledgeable consultant who can help your organization tailor a plan.

#3: Be ready to respond quickly.

Your records area prime target for data thieves—and you may also lose access to them because of a power outage, severe weather or another calamity. In any case, the NAIC advises making the response to such incidents an essential component of any cyber security strategy. Your data partner should be able to help you test scenarios and create an action plan before you're caught up short by a breach or other breakdown in data security.

#4: Fully vet your partner.

The NAIC encourages companies to confirm that any third parties handling PII have the proper controls in place. When shopping for a records and information management partner, look for one who has the widest range of services available and who continues to add new precautions as online threats increase.

After you've reviewed your company's current practices for adherence to NAIC recommendations, you're probably ready for some R&R. And when you entrust your insurance records to a capable vendor, you can actually concentrate on not concentrating on work.

Iron Mountain Recommends: Security for All Seasons

The need to stay compliant doesn't stop when you leave for vacation, and neither do our protections. Iron Mountain's records and information management solutions for insurance companies offer:

  • Premium storage. Manage most any data format (paper, digital, tape) in environmentally appropriate conditions.
  • Policy solutions. Stay up to date with current retention requirements.
  • Data Centers. Colocation services that balance the efficiency and cost economics of colocation. Our data centers give you better visibility, higher compliance and additional resiliency for your data center deployment.
  • Disaster Recovery. Ensure that your company's data can be recovered with minimal disruptions.


Increasing The Efficiency Of Your Mortgage Document Management
Increasing The Efficiency Of Your Mortgage Document Management

Topics: Store and Protect Information

Mortgage lenders and servicers face declining originations and escalating regulatory requirements. This white paper looks at how you can increase the efficiency and profitability of your mortgage loan business. It offers insights into offloading the burden of organizing, managing, and protecting mortgage documents so you can process loans more efficiently, respond to buyers more quickly, and stay ahead of the auditor — making it easier to achieve your profit goals.