Remove Cybersecurity Remove Education Remove Financial Services Remove Insurance
article thumbnail

New York Department of Financial Services Issues First Guidance by a U.S. Regulator Concerning Cyber Insurance

Data Matters

On February 4, 2021, the New York Department of Financial Services (NYDFS) issued Circular Letter No. 2 announcing a Cyber Insurance Risk Framework (the Framework) that describes industry best practices for New York-regulated property/casualty insurers. Insurers should: Establish a Formal Cyber Insurance Risk Strategy.

article thumbnail

What is Cybersecurity Risk Management?

eSecurity Planet

The simplest example may be insurance. Life, health, auto, and other insurance are all designed to help a person protect against losses. This article looks at cybersecurity risk management, how to establish a risk management system, and best practices for building resilience. What is Cybersecurity Risk Management?

Risk 144
Insiders

Sign Up for our Newsletter

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

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

Developments in Health Privacy and Cybersecurity Policy and Regulation: OCR Issues Cybersecurity Warnings and New Health Data Legislation Is Introduced

Data Matters

Department of Health and Human Service’s Office for Civil Rights (“OCR”) issued industry guidance for Health Insurance Portability and Accountability Act (“HIPAA”) regulated entities to take preventative steps to protect against some of the more common, and often successful, cyber-attack techniques. On March 17, 2022, the U.S.

article thumbnail

DOL Puts Plan Sponsors and Other Fiduciaries on Notice: ERISA Requires Appropriate Precautions to Mitigate Cybersecurity Threats

Data Matters

There just may be a new cybersecurity regulator in town. Department of Labor (DOL) published its first cybersecurity guidance last week ( Cybersecurity Guidance ). The Cybersecurity Guidance is set forth in three parts: Tips for Hiring a Service Provider , directed toward plan sponsors and fiduciaries.

article thumbnail

What is a Cyberattack? Types and Defenses

eSecurity Planet

However, basic cybersecurity tools and practices, like patching , strong passwords , and multi-factor authentication (MFA), “can prevent 80 to 90% of cyberattacks,” said Anne Neuberger, deputy national security advisor for cyber and emerging technologies, during a White House press conference in Sept. The average cost of a breach is $3.6

article thumbnail

CyberheistNews Vol 13 #13 [Eye Opener] How to Outsmart Sneaky AI-Based Phishing Attacks

KnowBe4

A leader tasked with cybersecurity can get ahead of the game by understanding where we are in the story of machine learning (ML) as a hacking tool," Tyson writes. "At At present, the most important area of relevance around AI for cybersecurity is content generation. He doesn't just cover one angle. He covers it from all angles!