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What Is Integrated Risk Management? Definition & Implementation

eSecurity Planet

Integrated risk management identifies and eliminates unnecessary complexities to simplify risk analysis and threat control and introduces optimized operational performance as a potential side effect. Standardization makes data objective, quantifiable, and comparable across the organization to improve analysis and enable uniform decisions.

Risk 67
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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. Actual Actuarial Validity.

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Regulatory Update: NAIC Summer 2022 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Summer 2022 National Meeting (Summer Meeting) August 9–13, 2022. The Privacy Working Group has been reviewing state insurance privacy protections regarding the collection, ownership, use, and disclosure of information gathered in connection with insurance transactions.

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Regulatory Update: NAIC Summer 2021 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Summer 2021 National Meeting (Summer Meeting) August 14-17, 2021. Highlights include, among others, adoption of revised risk-based capital bond factors for life insurers, amendments to SSAP No. NAIC Adopts Revised Risk-Based Capital Bond Factors for Life Insurers.

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Connecticut Tightens its Data Breach Notification Laws

Data Protection Report

The amendment: Expands the definition of “personal information”; Shortens the notification deadline after discovery of a breach from 90 to 60 days; Removes the requirement to consult with law enforcement as part of a risk assessment; Deems compliant any person subject to and in compliance with HIPAA and HITECH; and.

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Data Breaches and Cyber Attacks in October 2023 – 867,072,315 Records Breached

IT Governance

Our monthly blogs will provide analysis of the data we’ve collected and we’ll continue to discuss the biggest breaches on our 2023 overview of publicly disclosed data breaches and cyber attacks. This typically included conducting a forensic analysis to establish exactly what happened (often by engaging a third-party specialist).

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On Cyber Warranties

Schneier on Security

Our preliminary analysis suggests the majority of cyber warranties cover the cost of repairing the device alone. Ambiguous definitions of the buyer's obligations and excluded events create uncertainty over what is covered. Our analysis has not touched upon the price of these products.