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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. 2 announcing a Cyber Insurance Risk Framework (the Framework) that describes industry best practices for New York-regulated property/casualty insurers. Rigorously Measure Insured Risk. The Framework.

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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. For example, Mondelez International Inc. complaint filed Oct.

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Top GRC Tools & Software for 2021

eSecurity Planet

LogicManager’s GRC solution has specific use cases across financial services, education, government, healthcare, retail, and technology industries, among others. Its features include: Compliance education & management. Insurance & claims management. See our in-depth look at RSA Archer. LogicManager.

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

KnowBe4

This data makes it clear that security awareness training designed to educate users on the need to be continually vigilant, regardless of the device, is critical to an organization remaining protected against attacks. I've written quite a few times about specific cyber insurance claim cases that required going to court to settle.

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What is a Cyberattack? Types and Defenses

eSecurity Planet

The 2022 SonicWall Cyber Threat Report found that all types of cyberattacks increased in 2021. Major cyberattacks at companies like SolarWinds and Colonial Pipeline raised the public visibility of cybersecurity greatly in 2021, elevating it to a Presidential priority. Also read: Best Antivirus Software of 2022. Cyberattack Statistics.

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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.