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Ohio Adopts National Association of Insurance Commissioners’ (NAIC) Insurance Data Security Model Law

Data Matters

On December 19, 2018, Ohio adopted the National Association of Insurance Commissioners’ (NAIC) Insurance Data Security Model Law. The Act is designed to “establish standards for data security and for the investigation and notification to the Superintendent of Insurance of a cybersecurity event.”.

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UK cyber crime rate has doubled in the past five years

IT Governance

Beaming’s Five Years in Cyber Security found that 1.5 million organisations fell victim to cyber crime in 2019. On the plus side, the average cost of breaches has fallen from £26,000 per incident in 2015 to £6,000 in 2019 – although that’s offset by the increase in the overall number of incidents.

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Ransomware attack on MGM Resorts costs $110 Million

Security Affairs

The company paid third-party experts $10 million to clean up its systems. “The Company has also incurred less than $10 million in one-time expenses in the third quarter related to the cybersecurity issue, which consisted of technology consulting services, legal fees and expenses of other third party advisors.”

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NYDFS settles cybersecurity regulation matter for $1.8 million

Data Protection Report

million settlement with two related insurance companies, relating to violations of two different requirements of the NYDFS cybersecurity regulation during the period 2018 to 2019. This matter began when insurance affiliate #1, licensed by NYDFS, discovered a phishing email in September of 2018. NYDFS Cybersecurity Regulation.

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List of data breaches and cyber attacks in February 2019 – 692,853,046 records leaked

IT Governance

I count this month’s total of leaked records to be 692,853,046, bringing 2019’s total to 2,462,038,109. Eskom data leak exposes sensitive customer informationSecurity researcher. Outdated software left municipal worker information exposed in 200 towns. Crosby ISD’s IT system hacked by ransomware virus.

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Volkswagen discloses data breach, 3.3 million customers impacted

Security Affairs

The security breach affected a subsidiary Audi and authorized dealers in the U.S. According to a letter sent by the company to the Maine Attorney General and reported by TechCrunch , the subsidiary company left customer data spanning 2014 to 2019 unsecured online between August 2019 and May 2021. million of its customers.

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SEC Announces Settled Charges Against First American for Cybersecurity Disclosure Controls Failures – Lessons Learned

Data Matters

On June 15, 2021, the SEC announced settled charges against First American Title Insurance Company (First American) for disclosure controls and procedures violations related to a cybersecurity vulnerability that exposed sensitive customer information. SEC Statement and Guidance on Public Company Cybersecurity Disclosures.