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Cybersecurity Rules for Insurance Companies to Take Effect in South Carolina

Hunton Privacy

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.

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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. Perform staff awareness training.

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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.

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HHS Announces First HIPAA Settlement Agreement Involving Ransomware Attack

Hunton Privacy

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”).

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NYDFS Imposes Fine of $5 Million on Carnival for Cybersecurity Breaches

Hunton Privacy

Since Carnival was licensed by the Department to sell insurance in NY State, it was treated as a covered entity under the Cybersecurity Regulation. In addition to the monetary penalty of $5 million, NYDFS also accepted Carnival’s surrender of its insurance producer license; thus, Carnival has ceased selling insurance in New York.

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What is Confidential Computing? Definition, Benefits, & Uses

eSecurity Planet

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.

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SHARED INTEL Q&A: My thoughts and opinions about cyber threats — as discussed with OneRep

The Last Watchdog

Regular training and simulations can help reduce risks associated with human errors. Regular training and simulations can help reduce risks associated with human errors. What is the role of cybersecurity awareness training for a company’s employees? Regular awareness training for employees is indispensable.