The Bermuda Monetary Authority
(“BMA“) has released its Operational
Cyber Risk Management Code of Conduct (“the
Code“) for the insurance sector. The purpose of the
Code is to promote the stable and secure management of information
technology systems of registered insurers, insurance managers and
intermediaries (collectively,
“registrants“), highlighting the
critical nature of a registrant’s confidentiality, integrity
and availability of information to its daily operations.

Registrants must ensure there is adequate board visibility and
governance of cyber risk. The Chief Information Security…