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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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Regulatory Update: NAIC Fall 2020 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Fall 2020 National Meeting (Fall Meeting) December 3-9, 2020. These revisions are exposed for comment until January 11, 2021. As a result of the continuing COVID-19 pandemic, the NAIC once again met in a virtual format. NAIC Re-exposes Revisions to SSAP No.

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MY TAKE: Why companies and consumers must collaborate to stop the plundering of IoT systems

The Last Watchdog

A candy store for hackers A recent Forrester workforce survey showed that by mid 2020, 58 percent of corporations worldwide had at least half of their employees working from home, where an average of 11 devices lurk — connected to the internet. 2020 has been a year of tumultuous, unimaginable developments.

IoT 279
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Top Cybersecurity Startups to Watch in 2022

eSecurity Planet

Series A Cado Security 2020 London, UK 26 $11.5 Series B Wiz 2020 Tel Aviv, Israel 186 $230.0 In a year where the supply chain was on trial, Cycode is a startup filling the vulnerability gap often present in the software supply chain and DevOps pipeline. Series A Lightspin 2020 Tel Aviv, Israel 43 $20.0 Series B SECURITI.ai

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Cybersecurity Standards for the Insurance Sector – A New Patchwork Quilt in the US?

HL Chronicle of Data Protection

The entering into effect of multiple state laws in this area may present challenges for insurance providers operating in states where such cybersecurity requirements are provided for. Major data breaches in recent years are spurring state legislators and regulators across the US into action. Ohio Senate Bill 273 (ORC §§3965.01-11)

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Regulatory Update: NAIC Summer 2019 National Meeting

Data Matters

The New York State Department of Financial Services recently amended its annuity suitability regulation to apply a “best interest” standard in connection with both life insurance and annuity transactions with consumers. Annuity Disclosure (A) Working Group Compromises on Age Restriction on Indices Used in Annuity Illustrations.

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Regulatory Update: NAIC Summer 2018 National Meeting

Data Matters

The Big Data (EX) Working Group heard a presentation from LIMRA regarding how insurers are utilizing consumer data in underwriting life insurance products. Discussion following the presentation focused on stakeholder concerns regarding such use of big data, including the lack of consumer disclosures and confidentiality concerns.