Regulatory Update: NAIC Summer 2021 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Summer 2021 National Meeting (Summer Meeting) August 14-17, 2021. Highlights include, among others, adoption of revised risk-based capital bond factors for life insurers, amendments to SSAP No.

Regulatory Update: NAIC Summer 2020 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Summer 2020 National Meeting (Summer Meeting) from July 27 to August 14, 2020. The Annuity Suitability Working Group (ASWG) led the NAIC’s multi-year efforts to develop revisions to the Suitability in Annuity Transactions Model Regulation (SAT) to incorporate a requirement for producers to act in the “best interest” of a retail customer when making a recommendation of an annuity.

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List of data breaches and cyber attacks in May 2021 – 116 million records breached

IT Governance

Doncaster-based One Call Insurance hit by ransomware (unknown) Ransomware attack on Swiss Cloud Computing AG (6,500) Wolfe Eye Clinic victim of Lorenz threat actors (unknown) One of the US’s largest pipelines shuts down to contain cyber security breach (unknown) J.

7 Benefits of Metadata Management

erwin

Metadata management is key to wringing all the value possible from data assets. However, most organizations don’t use all the data at their disposal to reach deeper conclusions about how to drive revenue, achieve regulatory compliance or accomplish other strategic objectives. What Is Metadata?

The Good, Bad, And The Ugly: Key Takeaways From California’s New Privacy Law

Privacy and Cybersecurity Law

The CCPA, as adopted, contains important exemptions for businesses already collecting “personal information” (as that phrase is defined under the CCPA) under the Confidentiality of Medical Information Act (“CMIA”), Health Insurance Portability and Availability Act of 1996 (“HIPAA”), Fair Credit Reporting Act (“FCRA”), Gramm-Leach-Bliley Act (“GLBA”), and Driver’s Privacy Protection Act of 1994 (“DPPA”). Consumer privacy rights in California are well established.