2015 Encryption Financial Services Insurance 
Hunton Privacy
FEBRUARY 25, 2021
As reported on the Hunton Insurance Recovery blog , on February 4, 2021, the New York Department of Financial Services (“NYDFS”), which regulates the business of insurance in New York, has issued guidelines, in the Insurance Circular Letter No. sought coverage for expenses under its property insurance policy.
HL Chronicle of Data Protection
MAY 13, 2019
In the past two years, multiple state bills that have been introduced in the US to provide for cybersecurity requirements and standards to the insurance sector, with recent legislative activity taking place in particular within the States of Ohio, South Carolina, and Michigan. NYDFS: Setting a new bar for state cybersecurity regulation.
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eSecurity Planet
JUNE 16, 2022
Cyber criminals may damage, destroy, steal, encrypt, expose, or leak data as well as cause harm to a system. Encrypted threats spiked 167%, ransomware increased 105%, and 5.4 In 2015, global cyber crime had a cost of about $3 trillion, and the cost is expected to rise to $10.5 Ransomware. Ransomware is the fastest-growing trend.
Security Affairs
APRIL 8, 2020
The attack took place on March 14th, 2020, when the Maze Ransomware operators exfiltrated data from the HMR’s network and then encrypt their systems. The Hammersmith Medicines Research is notifying impacted individuals via email the incident, the hackers stole data then employed ransomware to encrypt its systems.
Hunton Privacy
FEBRUARY 6, 2015
On February 3, 2015, the Securities and Exchange Commission (“SEC”) released a Risk Alert , entitled Cybersecurity Examination Sweep Summary, summarizing observations from the recent round of cybersecurity examinations of registered broker-dealers and investment advisers under the Cybersecurity Examination Initiative.
Data Matters
MARCH 12, 2019
Of particular note, the Safeguards Rule NPRM proposes to align the FTC’s requirements with those of the New York Department of Financial Services (“NYDFS”), as found in its cybersecurity regulations, and the National Association of Insurance Commissioners (“NAIC”), as found in its insurance data security model law.
Data Matters
OCTOBER 8, 2020
Ransomware attacks use malware, often injected through phishing schemes, to encrypt a victim’s data files or programs, followed by a ransom demand by the threat actor that offers the decryption key in exchange for payment. Payment is often demanded in bitcoin, and thus third-party services are often used to make such payments.
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