article thumbnail

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.

article thumbnail

Cyber Insurance: Not Just for Data Protection

Hunton Privacy

President Obama’s Executive Order 13636 on Improving Critical Infrastructure Cybersecurity identified “insurance liability considerations” as an incentive that might improve security. Over the course of the year since the Executive Order was issued, there has been an increase in the marketing of cyber insurance products.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Insurers’ role will be critical in improving cybersecurity standards

CGI

Insurers’ role will be critical in improving cybersecurity standards. And, of course, our world is becoming increasingly digital in nature, with all kinds of services—from finance to health, energy and tax affairs—becoming digitally delivered. Wed, 08/31/2016 - 08:00. Where such data exists, often it is not shared.

article thumbnail

Data analytics – how should insurers look to the future?

CGI

Data analytics – how should insurers look to the future? With a plethora of new data sources across the property and casualty (P&C) general insurance lifecycle now becoming available, how do insurers create an all-encompassing data analytics policy for the future? Tue, 09/12/2017 - 03:00. Connected and monitored energy usage.

article thumbnail

UK Honey Bees and Insurance; an existential threat in the wings?

CGI

UK Honey Bees and Insurance; an existential threat in the wings? There is of course one difference between the hive and the Insurance sector – the ability to respond. There is of course one difference between the hive and the Insurance sector – the ability to respond. Wed, 09/05/2018 - 04:28.

article thumbnail

Information Management in the Not-So-Distant Future of Health Care

AIIM

The classic example is the insurer that won’t pay for care that a doctor determines a patient needs. Insurers are about profit; doctors are about delivering the best care. By 2028, the global telemedicine market will be almost $299 billion (“Telemedicine Market Size Worth $298.9 Telemedicine. Predictive Analytics.

article thumbnail

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.