Data Matters

FEBRUARY 11, 2019

On December 28, 2018, Michigan adopted the National Association of Insurance Commissioners’ (NAIC) Insurance Data Security Model Law in the form of Michigan H.B. The Act defines licensees as persons authorized, registered, or licensed under Michigan insurance laws or required to be so. 6491 (Act). MCL § 500.550.

Insurance 68

Insurance Security Cybersecurity FOIA 68

Hunton Privacy

JANUARY 2, 2019

New cybersecurity rules for insurance companies licensed in South Carolina are set to take effect in part on January 1, 2019. The new law is the first in the United States to be enacted based on the data security model law drafted by the National Association of Insurance Commissioners.

Insurance 77

Insurance Cybersecurity Data breaches Encryption 77

IT Governance

JULY 15, 2019

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.

Insurance 89

Insurance Data breaches Risk Information Security 89

Hunton Privacy

JULY 16, 2021

The Proposed Guidance seeks to promote consistency in banking organizations’ third-party risk management, replacing agency-specific guidance with a framework that applies to all banking organizations supervised by the Regulators.

Risk 81

Risk Insurance Sales Encryption 81

Thales Cloud Protection & Licensing

JANUARY 16, 2024

Such outsourcing of ICT services also requires a clear definition of responsibilities, risks and mitigation between financial entities and ICT third-party service providers. That includes banks, insurances, payment institutions, stock market, and many financial management firms (trading, crypt-assets, etc). What is the scope of DORA?

Financial Services 83

Financial Services Cloud Cybersecurity Encryption 83

eSecurity Planet

AUGUST 27, 2021

In a developing market, third-party risk management (TPRM) software and tools could be the answer to helping organizations fill the gap. This article looks at the top third-party risk management vendors and tools and offers a look into TPRM solutions and what buyers should consider before purchasing. Aravo TPRM.

Risk 129

Risk Compliance Marketing Cybersecurity 129

Data Protection Report

FEBRUARY 27, 2020

Given the level of interest in the case, we have prepared a deeper-dive into the facts and the implications of the decision, with a focus on the important role played in the case by cyber insurance. For some time, cyber exposure has been at or near the top of every major company’s risk register. This is set out below. The context.

Insurance 81

Insurance Risk Data breaches Personal data 81

eSecurity Planet

OCTOBER 18, 2022

However, even with the best planning, organizations can find a few users, machines, or systems that were overlooked or whose backup may be corrupted or encrypted. First, call the cyber insurance company that issued the organization’s cybersecurity policy. Insured companies often will not have options. Eliminate attacker access.

Ransomware 129

Ransomware Encryption Insurance Access 129

Data Matters

JULY 30, 2018

In October 2017, the National Association of Insurance Commissioners (NAIC) adopted an Insurance Data Security Model Law. On May 3, 2018, South Carolina became the first state to enact this Model Law, in the form of the South Carolina Insurance Data Security Act (H.B. See CT Gen Stat § 38a-999b (2015) ; 23 NYCRR 500.

Insurance 60

Insurance Security Cybersecurity Data breaches 60

Data Matters

JUNE 23, 2022

Kentucky and Maryland recently continued the trend of state insurance departments adopting some version of the National Association of Insurance Commissioners’ (“NAIC”) Insurance Data Security Model Law. Kentucky Governor Andy Beshear signed House Bill 474 into law, and Maryland Governor Larry Hogan signed SB 207.

Insurance 103

Insurance Security Cybersecurity Information Security 103

eSecurity Planet

JANUARY 12, 2021

Protecting your organization from IT security risks is an ongoing, fluid task. As a savvy tech leader, you are likely hyperfocused on performing security risk audits to keep your networks strong and protected. Components of Security Risk Assessments. Encryption strength. Cybersecurity preparedness/ insurance.

Risk 70

Risk Security Cybersecurity Compliance 70

IT Governance

FEBRUARY 5, 2018

Increased interest in cyber insurance. With more than 800 million records being leaked in 2017 ( find out more in our Breaches and Hacks Blog Archive ), it’s not surprising that cyber insurance business has increased in recent months. Insurers assess an organisation’s cyber risk to set premium levels.

Insurance 71

Insurance Risk Government Paper 71

Thales Cloud Protection & Licensing

NOVEMBER 9, 2021

To be able to leverage the fantastic opportunities of cloud computing and still remain in control of their security, organizations have to understand the level of risk they are willing to take, and implement the right processes and tools. From shared responsibility to shared fate. This is called shared fate.

Cloud 123

Cloud Security Encryption Insurance 123

Thales Cloud Protection & Licensing

JUNE 15, 2023

The most effective way to ensure data security is through encryption and proper key management. Key Management as a Service (KMaaS) allows companies to manage encryption keys more effectively through a cloud-based solution instead of running the service on physical, on-premises hardware.

Encryption 133

Encryption Compliance Cloud Authentication 133

Hunton Privacy

NOVEMBER 13, 2023

DMS did not detect the attack until after the ransomware was used to encrypt its files in December 2018. DMS is a HIPAA business associate (“BA”) that provides payer credentialing and medical billing services to HIPAA Covered Entities (“CEs”).

Ransomware 72

Ransomware Risk Insurance Encryption 72

Krebs on Security

DECEMBER 8, 2022

First spotted in mid-August 2022 , Venus is known for hacking into victims’ publicly-exposed Remote Desktop services to encrypt Windows devices. Encrypting sensitive data wherever possible. Continuously educating and informing staff about the risks and methods used by cybercriminals to launch attacks and steal data.

Ransomware 250

Ransomware Metadata Insurance Encryption 250

IBM Big Data Hub

APRIL 24, 2024

The app heavily encrypts all user financial data. Deploying privacy protections: The app uses encryption to protect data from cybercriminals and other prying eyes. User control Organizations can limit privacy risks by granting users as much control over data collection and processing as possible.

Data Privacy 69

Data Privacy Privacy GDPR Personal data 69

IT Governance

FEBRUARY 15, 2022

Cyber insurance will become more popular and more comprehensive. It’s led to a growing trend for organisations to purchase cyber insurance, which Forbes contributor Emil Sayegh believes will continue in 2022. This market squeeze will certainly affect the cyber insurance industry itself. “We Register now.

Security 142

Security Insurance Authentication Passwords 142

Thales Cloud Protection & Licensing

MAY 9, 2022

While implementation of security technologies such as multi-factor authentication and encryption have slightly increased, we have not yet reached the level where the majority of applications, data and operational technology are fully protected. Cyber insurance coverage ramps up. Encrypt sensitive data at rest, in motion and in use.

Insurance 71

Insurance Ransomware Encryption Authentication 71

IT Governance

MAY 3, 2019

An RTP (risk treatment plan) is an essential part of an organisation’s ISO 27001 implementation process, as it documents the way your organisation will respond to identified threats. What are your risk treatment options? What are your risk treatment options? Avoid the risk by ceasing any activity that creates it.

Risk 72

Risk Information Security Communications Insurance 72

Schneier on Security

FEBRUARY 28, 2024

In the first week of January, the pharmaceutical giant Merck quietly settled its years-long lawsuit over whether or not its property and casualty insurers would cover a $700 million claim filed after the devastating NotPetya cyberattack in 2017. The 9/11 attacks cost insurers and reinsurers $47 billion. 11, 2001, terrorist attacks.

Insurance 87

Insurance Government Cybersecurity Risk 87

eSecurity Planet

MAY 26, 2023

Confidential computing is a technology and technique that encrypts and stores an organization’s most sensitive data in a secure portion of a computer’s processor — known as the Trusted Execution Environment (TEE) — while it’s processed and in use. Most other encryption approaches protect data at rest and data in transit only.

Encryption 73

Encryption Cloud IoT Blockchain 73

Security Affairs

OCTOBER 1, 2023

The threat actors also claim to have stolen over 27 TB of corporate data and encrypted the company’s VMWare ESXi virtual machines during the attack.” Immediately after detecting the intrusion, the company launched an investigation with the help of leading third-party cybersecurity experts and is also coordinating with its insurers.

Ransomware 132

Ransomware Insurance Cybersecurity Encryption 132

HL Chronicle of Data Protection

MAY 13, 2019

In the past two years, multiple state bills that have been introduced in the US to provide for cybersecurity requirements and standards to the insurance sector, with recent legislative activity taking place in particular within the States of Ohio, South Carolina, and Michigan. NYDFS: Setting a new bar for state cybersecurity regulation.

Insurance 40

Insurance Cybersecurity Data breaches Financial Services 40

eSecurity Planet

AUGUST 9, 2022

See the Top Governance, Risk and Compliance (GRC) Tools. 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).

Data Privacy 138

Data Privacy Compliance Privacy Security 138

eSecurity Planet

JANUARY 21, 2021

Governance, risk, and compliance (GRC) software helps businesses manage all of the necessary documentation and processes for ensuring maximum productivity and preparedness. It includes multi-disciplinary risk and compliance management solutions and tools, including: IT & security risk management. Third-party risk management.

Compliance 57

Compliance Risk Government Retail 57

Armstrong Archives

AUGUST 25, 2023

The Health Insurance Portability and Accountability Act (HIPAA) ensures individuals’ health data protection and privacy. This includes insurance companies, nurses, and doctors. Strong encryption methods for data should be used, and multi-factor authentication will add even another layer of security.

Computer and Electronics 52

Computer and Electronics Insurance Compliance Risk 52

eSecurity Planet

DECEMBER 7, 2023

Encryption uses mathematical algorithms to transform and encode data so that only authorized parties can access it. What Encryption Is and How It Relates to Cryptology The science of cryptography studies codes, how to create them, and how to solve them. How Does Encryption Process Data? How Does Encryption Process Data?

Encryption 95

Encryption IT Passwords IoT 95

Thales Cloud Protection & Licensing

DECEMBER 22, 2020

New EU restrictions could force companies to change data transfer practices and adopt more advanced data encryption methods. Rather it is a complex, business risk management issue that has both legal and operational elements woven throughout its fabric. Cross-Border Data Privacy and Security Concerns in the Dawn of Quantum Computing.

Data Privacy 118

Data Privacy Privacy Security Encryption 118

Data Matters

AUGUST 19, 2020

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.

Financial Services 68

Financial Services Cybersecurity Insurance Risk 68

The Last Watchdog

OCTOBER 5, 2023

How can companies minimize risks? Regular training and simulations can help reduce risks associated with human errors. Regular training and simulations can help reduce risks associated with human errors. Erin: Do you think cyber insurance should play a bigger role in companies’ cybersecurity strategies?

Cybersecurity 190

Cybersecurity Privacy Cloud IoT 190

OneHub

OCTOBER 29, 2019

The second is to make sure they use encryption, preferably bank-level. Here’s what every business needs to know about using an encrypted file sharing service and how to safely share documents. What Is Bank-Level Encryption? . There are different degrees of encryption, including 128, 192, and 256 bits. Here’s why.

Encryption 40

Encryption Data breaches Access Marketing 40

Hunton Privacy

FEBRUARY 22, 2017

The stolen laptops contained policyholder electronic Protected Health Information (“ePHI”), including names, addresses, birth dates, insurance identifications and, in some cases, Social Security numbers and clinical data. The policyholder data was password protected but not encrypted, in violation of HIPAA and HITECH.

Insurance 45

Insurance Privacy Encryption Passwords 45

The Last Watchdog

DECEMBER 5, 2018

The compromised databases included names, addresses, dates of birth, insurance policy details, medical record numbers, account balances and dates of service — of both guarantors and patients. The fact that this incident is being labeled “the Atrium breach” in the media also shows where the reputational risk lies. Sticky problem.

Data breaches 118

Data breaches Insurance Risk Ransomware 118

Data Protection Report

SEPTEMBER 11, 2017

Still, in what for the moment might seem like a more pedestrian risk, companies continue to be affected by ransomware. General ransomware risk disclosures. In the energy sector, at least two companies — Concho Resources and Repsol — have disclosed ransomware risks. Here is how some companies have addressed it.

Risk 40

Risk Ransomware Insurance Data breaches 40

Security Affairs

SEPTEMBER 23, 2023

The command-and-control beacons allowed Royal to prepare the City’s network resources for the May 03, 2023, ransomware encryption attack.” “During the surveillance period, Royal performed several actions to inject command and control software and established command-and-control beacons. ” continues the report.

Ransomware 112

Ransomware Encryption Systems administration Cybersecurity 112

Data Matters

APRIL 23, 2018

More and more, directors are viewing cyber-risk under the broader umbrella of corporate strategy and searching for ways to help mitigate that risk. Despite the plethora of cyber-risk guidance that has surfaced in recent years, however, there is no “silver bullet” for cyber incident response and prevention.

Cybersecurity 60

Cybersecurity Risk Passwords Authentication 60