Financial Security Institute launches insurer-GA security consultative body

The Financial Security Institute has launched an information security consultative body involving insurance companies and General Agencies (GAs) to mitigate third-party security risks. This initiative follows the growing influence of large GAs in the insurance industry, which handle concentrated amounts of personal credit information.

The consultative body aims to prevent cyberattacks that use GAs as entry points to penetrate financial institutions, particularly as high-performance AI increases the sophistication of such threats. Key objectives include establishing specialized security inspection standards for GAs, expanding security consulting and on-site inspections, and providing customized security training for insurance solicitors.

Additionally, the institute plans to strengthen measures for addressing security deficiencies and share best practices through cooperation between insurers and GAs. Currently, 14 out of 28 large-scale GAs have joined as member companies, with 13 more expected to follow.