The National Association of Insurance Commissioners (NAIC) has suspended its risk designations on the investments of insurers due to a cyber attack compromising data from ratings agencies including Moody’s, S&P and KBRA.
Hacking group, ShinyHunters, claimed that as part of the NAIC breach it had accessed more than 45,000 files from a number of rating agencies.
The NAIC said that the FBI was involved in the response to the incident.
US life insurers use these ratings and risk designations to help determine ow much capital they must have to meet their future obligations to policyholders.
