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

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.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Ransomware infected systems at Xchanging, a DXC subsidiary

Security Affairs

Xchanging is a business process and technology services provider and integrator, which provides technology-enabled business services to the commercial insurance industry. Xchanging is primarily an insurance managed services business that operates on a standalone basis.”

article thumbnail

The Week in Cyber Security and Data Privacy: 12 – 18 February 2024

IT Governance

Welfare Benefits Plan Source 1 ; source 2 New Healthcare USA Yes 13,079 Insurance ACE/Humana Inc. Source New Manufacturing USA Yes 20,415 TECA Srl Source New Transport Italy Yes 16.7 GB AGC Flat Glass North America, Inc.

article thumbnail

Security Compliance & Data Privacy Regulations

eSecurity Planet

are subject to laws such as the Health Insurance Portability and Accountability Act (HIPAA) and the Health Information Technology for Economic and Clinical Health Act (the HITECH Act), as well as regulations such as the Clinical Laboratory Improvements Amendments (CLIA). Healthcare Data Privacy Laws. Health data and patient data in the U.S.

article thumbnail

Multinational ICICI Bank leaks passports and credit card numbers

Security Affairs

If malicious actors accessed the exposed data, the company could have faced devastating consequences and put their clients at risk, as financial services are the main target for cybercriminals. ICICI Bank’s response Threat to financial accounts Finance and insurance are one of the most targeted industries by cybercriminals.

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.