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Historic Charges: First Enforcement Action Filed by New York Department of Financial Services Under Cybersecurity Regulation

Data Matters

On July 21, 2020, the New York State Department of Financial Services (NYDFS or the Department) issued a statement of charges and notice of hearing (the Statement) against First American Title Insurance Company (First American) for violations of the Department’s Cybersecurity Requirements for Financial Services Companies, 23 N.Y.C.R.R.

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NYDFS settles cybersecurity regulation matter for $3 million

Data Protection Report

On April 14, 2021, the New York Department of Financial Services (NYDFS) announced a $3 million settlement with insurance company National Securities Corp. Readers may recall that NYDFS’ cybersecurity regulation went into effect in March of 2017. NSC reported a second cybersecurity event to NYDFS on May 12, 2020.

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Regulatory Update: NAIC Summer 2018 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Summer 2018 National Meeting in Boston, Massachusetts, from August 4 to 7, 2018. NAIC Continues its Evaluation of Insurers’ Use of Big Data . The NAIC is also considering insurers’ use of big data in underwriting life insurance products.

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Ransomware Protection in 2021

eSecurity Planet

Attackers can fool even sophisticated users into clicking on an invoice they are expecting, or a photograph that is ostensibly from someone they know, or a document that appears to have come from their boss. Below we outline 18 industry tips for actions you can take to reduce your risk of a ransomware attack: Action. Description.

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What IG Professionals Should Know About the Internet of Bodies

ARMA International

A company in Wisconsin had a “chipping party” in 2017 to implant microchips in some of its employees to make it easier for them to access the buildings and systems and to buy food in the company break room. [1]. Benefits and Risks. Each type of IoB device brings with it benefits and risks. November 12, 2018. Spring 2018.

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FTC Hosts Workshop on Informational Injury

Hunton Privacy

On December 12, 2017, the Federal Trade Commission hosted a workshop on informational injury in Washington, D.C. Later in the afternoon, the discussion turned to business and consumer perspectives on the benefits, costs and risks of collecting and sharing data.

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Regulatory Update: NAIC Spring 2019 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Spring 2019 National Meeting (Spring Meeting) in Orlando, Florida, from April 6 to 9, 2019. ceding insurer could be eligible for the same reduced collateral requirements that would apply to qualifying EU reinsurers under the revised CFR Model Laws.