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Regulatory Update: NAIC Summer 2019 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Summer 2019 National Meeting (Summer Meeting) in New York City from August 3 to 6, 2019. The amended regulation took effect on August 1, 2019, for annuity products and will become effective on February 1, 2020, for life insurance products.

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UK cyber crime rate has doubled in the past five years

IT Governance

Beaming’s Five Years in Cyber Security found that 1.5 million organisations fell victim to cyber crime in 2019. On the plus side, the average cost of breaches has fallen from £26,000 per incident in 2015 to £6,000 in 2019 – although that’s offset by the increase in the overall number of incidents.

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$10,000,000 civil penalty for disclosing personal data without consent

Data Protection Report

As part of the order, the company agreed to post “clearly and conspicuously” on its websites and apps for the next two years: Between October 2019 and [date], we shared the personal of information of consumers visiting our website and apps with other companies without their permission. million consumers between October 2019 and March 2023.

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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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Business ID Theft Soars Amid COVID Closures

Krebs on Security

In 2019, Dun & Bradstreet saw more than a 100 percent increase in business identity theft. based cyber intelligence firm Hold Security has been monitoring the communications between and among a businesses ID theft gang apparently operating in Georgia and Florida but targeting businesses throughout the United States.

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Ephesoft Leads the Document Capture Industry to the Cloud with the First High- Performance Processing Hybrid Solution

Info Source

31, 2019 – Ephesoft, Inc. , This first-to-market hybrid offering enables organizations to optimize their existing Ephesoft Transact on-premise solution with improved performance, processing up to 2,500 pages per minute – more than 10 times faster than a strictly on-premise version. IRVINE, Calif. –

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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.