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

Data Matters

On February 4, 2021, the New York Department of Financial Services (NYDFS) issued Circular Letter No. Educate Insureds and Insurance Producers. individuals and businesses comply with ransomware payment demands in this October 2020 client alert.) regulator concerning the increasingly critical issue of cyberinsurance.

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Cloudflare: Mirai Botnet Launched Record-Breaking DDoS Attack

eSecurity Planet

Cloudflare last month fought off a massive distributed denial-of-service (DDoS) attack by a botnet that was bombarding 17.2 million requests per second (rps) at one of the internet infrastructure company’s customers in the financial services space. DDoS Attacks on the Rise. That prediction proved correct.

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Developments in Health Privacy and Cybersecurity Policy and Regulation: OCR Issues Cybersecurity Warnings and New Health Data Legislation Is Introduced

Data Matters

For example, the number of breaches of unsecured electronic Personal Health Information (“ePHI”) reported to the OCR affecting 500 or more individuals due to hacking or IT incidents increased 45% from 2019 to 2020. The Bill is set for review for the Committee on Health, Education, Labor, and Pensions.

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CyberheistNews Vol 13 #13 [Eye Opener] How to Outsmart Sneaky AI-Based Phishing Attacks

KnowBe4

Blog post with links: [link] [Live Demo] Ridiculously Easy Security Awareness Training and Phishing Old-school awareness training does not hack it anymore. back in 2020. When it comes to personal devices, the increase isn't as staggering, but the numbers are still horrible – back in 2020, 14.3% doing so in 2022, a 93% increase.

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New York Regulators Call on Insurers to Strengthen the Cyber Underwriting Process

Hunton Privacy

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. Obtain cybersecurity expertise to properly understand and evaluate cyber risk.

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Assessing the Impact of the Barbados’ Proposed Data Protection Bill on the Barbadian Private Sector

Data Matters

For example, Brazil expects data protection legislation to come into effect in 2020, joining the likes of Argentina, Mexico, Uruguay, Colombia, Antigua, the Bahamas, Bermuda, the Dominican Republic, St. In this regard, proper education and training about the BDPA should be provided and taken up by the Barbadian private sector.

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Regulatory Update: NAIC Summer 2019 National Meeting

Data Matters

The New York State Department of Financial Services recently amended its annuity suitability regulation to apply a “best interest” standard in connection with both life insurance and annuity transactions with consumers. In particular, with the expected start of the ICS monitoring period in 2020, U.S.