How quickly must an insurance company notify the superintendent after suffering a cybercriminal attack?

The prompt specifies that an insurance company must notify the superintendent within 72 hours after experiencing a cybercriminal attack. This requirement is in place to ensure that regulatory bodies are aware of potential threats to the integrity and stability of the insurance market, as cyber incidents can have significant implications for both the insurer and its policyholders.

Timely reporting is crucial in these situations because it allows for a coordinated response and encourages a culture of transparency and accountability in the insurance industry. The 72-hour timeframe reflects an urgency that is often necessary to mitigate the impacts of such attacks and protect sensitive customer data.

While options like 30 days, 10 days, or 48 hours suggest varying timelines, they do not align with the specific regulatory requirements set forth for the notification of cyber incidents. Therefore, understanding the need for immediate communication in the aftermath of a cyber attack illustrates the importance of swift action to maintain trust and security in the insurance sector.