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NYDFS Amends Cybersecurity Rules for Financial Services Companies

Hunton Privacy

On November 9, 2022, the New York Department of Financial Services (NYDFS) released its second, proposed amendments to the Part 500 Cybersecurity Rule. Revised Definition of Class A Companies. The proposed amendments revise several aspects of the draft Cybersecurity Rule amendments released on July 29, 2022.

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Vermont Enacts Insurance Data Security Law

Hunton Privacy

The new law generally follows MDL-668’s provisions, adopting the model law’s broad definition of nonpublic information and requiring licensees to, in part, maintain a written information security program (“WISP”) and investigate cybersecurity incidents. Enforcement and Penalties Under the Law.

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Security Compliance & Data Privacy Regulations

eSecurity Planet

Virgin Islands, and Guam) have their own data breach notification laws (and each such state, accordingly, has its very own definition of such basic terms as “data” and “breach”) – with Massachusetts’ and California’s respective breach-notification schemes viewed as among the strictest. In the U.S.,

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AI Governance: Why our tested framework is essential in an AI world

Collibra

Our framework is informed by our definition of AI governance: AI governance is the application of rules, processes and responsibilities to drive maximum value from your automated data products by ensuring applicable, streamlined and ethical AI practices that mitigate risk, adhere to legal requirements and protect privacy.

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

Data Matters

See 45 CFR 164.308(a)(1)(ii)(A)-(B): Implementation Specification: Risk Analysis (required), Implementation Specification: Risk Management (required); see also 45 CFR 164.304 (definition of “Availability”). implement a security awareness and training program for all workforce members pursuant to the HIPAA Security Rule.

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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.

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FTC Seeks Comment on Proposed Changes to its GLBA Safeguards and Privacy Rules

Data Matters

Of particular note, the Safeguards Rule NPRM proposes to align the FTC’s requirements with those of the New York Department of Financial Services (“NYDFS”), as found in its cybersecurity regulations, and the National Association of Insurance Commissioners (“NAIC”), as found in its insurance data security model law.

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