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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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Lloyd’s Will No Longer Include Nation-State Attacks in its Cyber Insurance Policies

IT Governance

Lloyd’s of London has announced that its insurance policies will no longer cover losses resulting from certain nation-state cyber attacks or acts of war. In a memo sent to the organisation’s insurance syndicates , Underwriting Director Tony Chaudhry said that Lloyd’s remains “strongly supportive” of policies that cover cyber attacks.

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Greylock McKinnon Associates data breach exposed DOJ data of 341650 people

Security Affairs

Greylock McKinnon Associates (GMA) provides expert economic analysis and litigation support to a diverse group of domestic and international clients in the legal profession, the business community, and government agencies, including the Department of Justice (DoJ).

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Previously undetected Earth Longzhi APT group is a subgroup of APT41

Security Affairs

Trend Micro reported that the Earth Longzhi group, a previously undocumented subgroup of APT41, targets Ukraine and Asian Countries. Further analysis, revealed that the same threat actor targeted multiple regions using a similar Cobalt Strike loader and has been active since 2020. ” reads the analysis published by Trend Micro.

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SilverTerrier gang uses COVID-19 lures in BEC attacks against healthcare, government organizations

Security Affairs

Nigerian cyber gang SilverTerrier, specialized in BEC attacks, used COVID-19 lures in recent attacks on healthcare and government organizations. 30), we have observed three SilverTerrier actors/groups launch a series of 10 COVID-19 themed malware campaigns.” ” reads the analysis published by Palo Alto Networks.

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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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The benefits of a flexible operating model in data governance

Collibra

Data governance is the essential foundation for organizations looking to create business value from data. It creates the structure that enables collaboration on and analysis of trusted data. Setting up effective data governance, however, can be quite challenging. What is an operating model in data governance?