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Life insurance policy administration system migrations: keys for staying on course

CGI

Why do so many life insurance carriers continue to live with outdated legacy administration platforms? The answer is that migrations are difficult and can go off course without the right people, governance, methodology and tools in place.

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The Future of Cyber Insurance

Dark Reading

Having cyber insurance is a good idea if the costs make sense — it could be the difference between going out of business and staying afloat. But it shouldn't be your first course of action.

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France: Changes to insurability of cyber losses

DLA Piper Privacy Matters

LOPMI introduces amendments to the insurability of losses and damages paid in response to cyber-attacks, including in relation to ransom payments – requiring that the payment of insurance compensation be conditional on the filing of a complaint, within a 72 hour time frame, to competent authorities.

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An Interesting Approach to Cyber Insurance

Dark Reading

What if insurers were to offer companies an incentive -- say, a discount -- for better protecting themselves? You know, the way car insurance companies offer lower premiums to customers who take a driver's ed course.

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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. sought coverage for expenses under its property insurance policy.

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Ohio Adopts National Association of Insurance Commissioners’ (NAIC) Insurance Data Security Model Law

Data Matters

On December 19, 2018, Ohio adopted the National Association of Insurance Commissioners’ (NAIC) Insurance Data Security Model Law. The Act is designed to “establish standards for data security and for the investigation and notification to the Superintendent of Insurance of a cybersecurity event.”.

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Michigan Adopts National Association of Insurance Commissioners’ (NAIC) Insurance Data Security Model Law

Data Matters

On December 28, 2018, Michigan adopted the National Association of Insurance Commissioners’ (NAIC) Insurance Data Security Model Law in the form of Michigan H.B. The Act defines licensees as persons authorized, registered, or licensed under Michigan insurance laws or required to be so. 6491 (Act). MCL § 500.550.