Remove 2019 Remove Blog Remove Government Remove Insurance
article thumbnail

Lloyd’s Will No Longer Include Nation-State Attacks in its Cyber Insurance Policies

IT Governance

Lloyd’s of London has announced that its insurance policies will no longer cover losses resulting from certain nation-state cyber attacks or acts of war. In a memo sent to the organisation’s insurance syndicates , Underwriting Director Tony Chaudhry said that Lloyd’s remains “strongly supportive” of policies that cover cyber attacks.

Insurance 105
article thumbnail

New York Department of Financial Services Issues First Guidance by a U.S. Regulator Concerning Cyber Insurance

Data Matters

2 announcing a Cyber Insurance Risk Framework (the Framework) that describes industry best practices for New York-regulated property/casualty insurers. According to NYDFS, the incorporation of these practices should be proportionate to each insurer’s size, resources, geographic distribution, and other factors. The Framework.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Ohio Adopts National Association of Insurance Commissioners’ (NAIC) Insurance Data Security Model Law

Data Matters

On December 19, 2018, Ohio adopted the National Association of Insurance Commissioners’ (NAIC) Insurance Data Security Model Law. The Act is designed to “establish standards for data security and for the investigation and notification to the Superintendent of Insurance of a cybersecurity event.”.

article thumbnail

Regulatory Update: NAIC Summer 2019 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Summer 2019 National Meeting (Summer Meeting) in New York City from August 3 to 6, 2019. The amended regulation took effect on August 1, 2019, for annuity products and will become effective on February 1, 2020, for life insurance products.

article thumbnail

List of data breaches and cyber attacks in May 2019 – 1.39 billion records leaked

IT Governance

The cyber security story for May 2019 is much the same as it was last month, with one mammoth breach raising the monthly total. which breached sixteen years’ worth of insurance data. UK government commits email privacy blunder (300). Hong Kong government dental clinic loses patients’ personal data (383).

article thumbnail

List of data breaches and cyber attacks in June 2019 ­– 39.7 million records leaked

IT Governance

June 2019’s total of 39,713,046 breached records is the lowest since May last year – the month that the GDPR (General Data Protection Regulation) came into effect. Edcouch, TX, government hit by ransomware attack (3,000). NY, government systems accessed by unauthorised party (unknown). Ransomware. Data breaches. Broome Co.,

article thumbnail

61% of organisations reported a data breach in 2019

IT Governance

The insurance firm Hiscox found that 61% of organisations were compromised in the past 12 months. Consider that the 2019 SonicWall Cyber Threat Report identified a record-high 10.52 But while they focus on the negatives, Cisco’s 2019 Data Privacy Benchmark Study has looked at the ways the GDPR has been a success.