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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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Watch out! Malware Analysis Sandboxes could expose sensitive data of your organization

Security Affairs

A study conducted by researchers at Cyjax revealed that organizations expose sensitive data via sandboxes used for malware analysis. Experts at the threat intelligence firm Cyjax analyzed file uploaded by organizations via malware analysis sandboxes and discovered that they were exposing sensitive data. Pierluigi Paganini.

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Ransomware group Dark Angels claims the theft of 1TB of data from chipmaker Nexperia 

Security Affairs

18 Gb.dwg - 38295 pcs - drawings and schematics of chips, microchips, transistors, etc.

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How One Company Survived a Ransomware Attack Without Paying the Ransom

eSecurity Planet

Cyber Insurer Provides Help. As Spectra Logic had the foresight to take out cyber insurance , Chubb representatives were professional and helpful, according to Mendoza. Forensic analysis of the breach came to a quick conclusion – a phishing attempt had tricked a user with privileged access into clicking on a malicious link.

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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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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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E-Verify’s “SSN Lock” is Nothing of the Sort

Krebs on Security

A reader who was recently the victim of unemployment insurance fraud said he was told he should create an account at the Department of Homeland Security ‘s myE-Verify website , and place a lock on his Social Security number (SSN) to minimize the chances that ID thieves might abuse his identity for employment fraud in the future.

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