Everyone knows what the No. 1 insurance story was this year, but there were a number of other events or trends that emerged in 2012 that will ripple through 2013 and beyond.
December 07, 2012
4. Nationwide's Data Breach
In October, about a million people associated with Nationwide Insurance — some policyholders, some individuals seeking quotes — had their data compromised in a security breach. While Nationwide is credited with generally doing a good job of follow-up and cleanup, the event is likely to lead insurers to re-examine and shore up their data security efforts. After all, if this could happen to a company whose chief privacy officer is so committed to his charge that he won't even use online banking, it could surely happen to anyone.
