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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. Actual Actuarial Validity.

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The Financial Service and Insurance Industries Need Intelligent Document Processing; Here’s Why

Rocket Software

Analyst firm IDC recently published a Vendor Spotlight report featuring ASG Mobius Content Services (Mobius) and its applications in the financial service and insurance industries. IDP Trends in the Financial and Insurance Industries. Challenges to Effective IDP.

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Vermont Enacts Insurance Data Security Law

Hunton Privacy

515 , making Vermont the twenty-first state to enact legislation based on the National Association of Insurance Commissioners Insurance Data Security Model Law (“MDL-668”). On May 27, 2022, Vermont Governor Phil Scott signed H.515 Information Security Program Requirements.

Insurance 107
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How to make sure your cyber insurance policy pays out

IT Governance

Cyber insurance is big business these days. Damages incurred by information security incidents generally aren’t covered in commercial insurance policies, so a specific policy is necessary to help cover the costs of things like forensic investigation, incident response and notification procedures. Document an incident response plan.

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HHS Targets Small Behavioral Health Clinic for HIPAA Violations Following Ransomware Investigation

Hunton Privacy

Submit its training materials to HHS for approval and provide appropriate training to the workforce within 30 days of HHS approval. The Corrective Action Plan also requires GRBH to submit implementation and annual reports to HHS and comply with document retention requirements. Investigate all likely policy violations.

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NEW TECH: Votiro takes ‘white-listing’ approach to defusing weaponized documents

The Last Watchdog

Melissa was hidden in a weaponized Word document that arrived as an email attachment. Votiro is a Tel Aviv-based security startup that is pioneering a new white-listing approach to help companies mitigate their exposure to weaponized email and document-distributed malware. The key takeaways: Productivity vs. security.

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HHS Announces First HIPAA Settlement Agreement Involving Ransomware Attack

Hunton Privacy

DMS is a HIPAA business associate (“BA”) that provides payer credentialing and medical billing services to HIPAA Covered Entities (“CEs”).