Regulatory Alerts2018-09-10 | DOF 5537380Added
Amending Circular 11/18 of the Single Insurance and Surety Circular (Provision 4.10.18; Annex 4.10.18)
The National Insurance and Sureties Commission eliminates the CNSF-18-001-A and CNSF-18-001-B procedures and the associated obligations to report unauthorized access incidents under Provision 4.10.18 and Annex 4.10.18 of the Single Insurance and Surety Circular. Instead, insurance institutions and mutual societies are required to conduct immediate investigations into any modification, extraction, loss, or deletion of sensitive user information, or any suspected unauthorized access. If such incidents occur, institutions must notify affected users within three business days to warn them of risks and specify necessary protective measures. This modification takes effect on the business day following its publication in the Official Gazette.
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