article thumbnail

Regulatory Update: National Association of Insurance Commissioners Spring 2024 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Spring 2024 National Meeting (Spring Meeting) March 15 through 18, 2024. The post Regulatory Update: National Association of Insurance Commissioners Spring 2024 National Meeting appeared first on Data Matters Privacy Blog.

article thumbnail

81% of Underwriters Expect Cyber Insurance Premiums to Increase as Risk is Expected to Soar

KnowBe4

New outlook data from cyber insurance underwriters shows where they think the biggest threats will be in 2024… and what they think organizations.

Insiders

Sign Up for our Newsletter

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

article thumbnail

NYDFS issues significant guidance on insurers using AI or external data

Data Protection Report

On January 17, 2024 the New York Department of Financial Services (“NYDFS”) published a Proposed Insurance Circular Letter (“Proposed Circular”) regarding the use of artificial intelligence systems (“AIS”) and external consumer data and information sources (“ECDIS”) in insurance underwriting and pricing.

article thumbnail

Two States Enact Insurance Data Security Laws

Hunton Privacy

In April 2022, two states enacted insurance data security legislation based on the National Association of Insurance Commissioners (“NAIC”) Insurance Data Security Model Law (MDL-668). Kentucky’s law goes into effect on January 1, 2023.

Insurance 110
article thumbnail

Top financial services trends of 2024

IBM Big Data Hub

The start of 2024 brings forth many questions as to what we can expect in the year ahead, especially in the financial services industry, where technological advances have skyrocketed and added complexities to an already turbulent landscape. One example of this is in insurance.

article thumbnail

Vermont Enacts Insurance Data Security Law

Hunton Privacy

515 , making Vermont the twenty-first state to enact legislation based on the National Association of Insurance Commissioners Insurance Data Security Model Law (“MDL-668”). On May 27, 2022, Vermont Governor Phil Scott signed H.515 Information Security Program Requirements. The law will go into effect on January 1, 2023.

Insurance 107
article thumbnail

Predictions for the financial services industry in 2024

OpenText Information Management

All of these elements have put pressure on the financial … The post Predictions for the financial services industry in 2024 appeared first on OpenText Blogs.