Data Protection Report

FEBRUARY 2, 2024

On January 17, 2024 the New York Department of Financial Services (“NYDFS”) published a Proposed Insurance Circular Letter (“Proposed Circular”) regarding the use of artificial intelligence systems (“AIS”) and external consumer data and information sources (“ECDIS”) in insurance underwriting and pricing. Actual Actuarial Validity.

Insurance 76

Insurance Artificial Intelligence Risk Compliance 76

Schneier on Security

JULY 1, 2021

Here’s one more contribution to that issue: a research paper that the insurance industry is hurting more than it’s helping. Although it is a societal problem, cyber insurers have received considerable criticism for facilitating ransom payments to cybercriminals.

Insurance 109

Insurance Ransomware Paper Marketing 109

eSecurity Planet

APRIL 22, 2022

That’s where cyber insurance may be able to help. For that reason, most experts now recognize that a complete cybersecurity strategy not only includes technological solutions aimed at preventing, detecting, and mitigating attacks, it should also include cyber insurance to help manage the associated financial risks. That’s a 29.1%

Insurance 99

Insurance Ransomware Cybersecurity Marketing 99

IBM Big Data Hub

MAY 1, 2023

In this first of two posts, I investigate the anatomy of artificial intelligence and its impact on insurance. Artificial intelligence applied to insurance The insurance industry has always made extensive use of data and algorithms, such as in the calculation of insurance premiums.

Artificial Intelligence 78

Artificial Intelligence Insurance Risk Personal data 78

Data Protection Report

MARCH 21, 2023

2] In this context, the Directorate General of the French Treasury has put forward a plan of action with a view to clarifying the cyber-insurance legal framework, better gauging cyber-risks, and enhancing companies’ awareness as regards cyber-risks. 12-10-1 into the French Insurance code. However, in the end, Article L.12-10-1

Insurance 104

Insurance Data breaches Personal data GDPR 104

Hunton Privacy

DECEMBER 16, 2022

On December 7, 2022, the Federal Trade Commission released an updated Mobile Health App Interactive Tool to help developers determine what federal laws and regulations apply to apps that collect and process health data.

Compliance 108

Compliance Insurance Privacy Access 108

IBM Big Data Hub

MAY 8, 2023

In my previous post , I described the different capabilities of both discriminative and generative AI, and sketched a world of opportunities where AI changes the way that insurers and insured would interact. As AI technologies continues to mature and use cases expand, insurers should not shy from the technology.

Insurance 69

Insurance Risk Artificial Intelligence Government 69

The Last Watchdog

AUGUST 24, 2020

Purchasing life insurance once meant going to an insurer’s office or booking an appointment with an insurance agent. Today’s generation is used to getting everything done fast and easy, so life insurance providers had to get with the times and cover all customers’ needs and requirements.

Insurance 154

Insurance IT Security Access 154

IT Governance

AUGUST 25, 2022

Lloyd’s of London has announced that its insurance policies will no longer cover losses resulting from certain nation-state cyber attacks or acts of war. In a memo sent to the organisation’s insurance syndicates , Underwriting Director Tony Chaudhry said that Lloyd’s remains “strongly supportive” of policies that cover cyber attacks.

Insurance 105

Insurance IT Government Risk 105

Hunton Privacy

SEPTEMBER 15, 2023

of the Security Risk Assessment (“SRA”) Tool under the Health Insurance Portability and Accountability Act (“HIPAA”) Security Rule. The SRA tool is available through the ONC’s website. On September 13, 2023, the National Coordinator for Health Information Technology (“ONC”) and the Office for Civil Rights (“OCR”) at the U.S.

Risk 69

Risk Security Insurance Cybersecurity 69

Hunton Privacy

AUGUST 10, 2023

On July 25, 2023, Hunton published a client alert discussing the importance of cyber and directors and officers (“D&O”) liability insurance for companies and their executives to guard against cyber-related exposures.

Insurance 52

Insurance Risk Security Cybersecurity 52

Schneier on Security

SEPTEMBER 10, 2019

Good paper on cybersecurity insurance: both the history and the promise for the future. From the conclusion: Policy makers have long held high hopes for cyber insurance as a tool for improving security. Cyber insurance appears to be a weak form of governance at present.

Insurance 81

Insurance Cybersecurity Risk Paper 81

Rocket Software

MARCH 14, 2022

Analyst firm IDC recently published a Vendor Spotlight report featuring ASG Mobius Content Services (Mobius) and its applications in the financial service and insurance industries. IDP Trends in the Financial and Insurance Industries. Challenges to Effective IDP.

Financial Services 82

Financial Services Insurance Digital transformation Paper 82

Data Breach Today

JANUARY 18, 2023

AI Tools are Tempting Productivity Aides for Clinicians, But What Are the Patient Data Risks? Healthcare workers should think twice about using AI tools such as ChatGPT as a productivity booster, privacy experts warned after a Florida doctor publicized on TikTok how he used it to write a letter to an insurer arguing for patient coverage.

Risk 130

Risk Insurance Privacy IT 130

Data Breach Today

JUNE 17, 2020

He notes that many organizations are now carrying cyber insurance coverage, in part, to gain rapid access to incident response tools and expertise. Ideally, organizations will get help to identify the best response, says Kroll's Alan Brill.

Insurance 250

Insurance Ransomware Access 250

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 130

Risk Compliance Marketing Cybersecurity 130

IBM Big Data Hub

OCTOBER 2, 2023

The FertilityAnswers Bot is a powerful tool that helps people with fertility concerns get the information they need to help them make decisions about their healthcare.

Insurance 90

Insurance Libraries Analytics Marketing 90

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. Conduct regular vulnerability scans.

Insurance 89

Insurance Data breaches Risk Information Security 89

Rocket Software

NOVEMBER 19, 2020

As our CEO Andy Youniss noted in his letter earlier this month, ConnectIQ is “a robotic process automation (RPA) tool for mainframe environments, and helps companies create new efficiencies by automating the most often repeated, most labor-intensive functions.” . You may not have heard, but Rocket recently acquired ConnectIQ. The post Busy?

Insurance 68

Insurance Financial Services Sales Government 68

eSecurity Planet

OCTOBER 18, 2022

The bad news is it doesn’t work most of the time: Paid ransom decryption tools and keys don’t always work. Free decryption tools don’t always work. Paid decryption tools don’t always work. First, call the cyber insurance company that issued the organization’s cybersecurity policy. Ransomware Decryption Tool Options.

Ransomware 133

Ransomware Encryption Insurance Access 133

eSecurity Planet

JANUARY 21, 2021

Data privacy regulations like the EU’s General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA) can be hard to navigate for businesses of any size, but GRC tools can simplify and streamline compliance with all of the requirements. Contents: Top GRC tools comparison. Top GRC tools comparison.

Compliance 67

Compliance Risk Government Retail 67

The Last Watchdog

JANUARY 30, 2019

Turn the corner into 2019 and we find Citigroup, CapitalOne, Wells Fargo and HSBC Life Insurance among a host of firms hitting the crisis button after their customers’ records turned up on a database of some 24 million financial and banking documents found parked on an Internet-accessible server — without so much as password protection.

Risk 117

Risk Financial Services Insurance Cybersecurity 117

Hunton Privacy

OCTOBER 14, 2019

The SAFETY Act, administered by the Department of Homeland Security, is coming of age as an important tool to reduce risk and limit liability. A SAFETY Act designation or certification complements a company’s traditional insurance policies to mitigate the potential liabilities from a cyber or physical attack.

Insurance 49

Insurance Security Retail Risk 49

Rocket Software

FEBRUARY 10, 2021

The mission-critical technology powering banking, airlines, insurance companies, the hospitality industry, delivery services, and more, IBM Information Management System, better known as “IMS,” processes an estimated 265 billion transactions today. In fact, if you live a modern life, it’s pretty much impossible not to interact with it.

Analytics 52

Analytics Insurance Access IT 52

IT Governance

MAY 30, 2018

A report published by research and consultancy company Celent highlights the challenges that the GDPR presents to insurers. Insurers are data controllers: a person, public authority, agency or body that determines the purpose of processing personal data. Steps insurers should take to become GDPR compliant.

Insurance 49

Insurance GDPR Compliance Data collection 49

Hunton Privacy

AUGUST 30, 2018

In doing so, the court likewise confirmed that intervening steps by the insured, such as following the directions contained in the bogus emails, did not break the causal chain so as to defeat coverage for “direct” losses. We’ve previously reported on ATC decisions on Hunton’s Insurance Recovery blog.

Insurance 45

Insurance 45

Security Affairs

JANUARY 19, 2024

According to the Ransomlooker tool, the number of ransomware attack victims increased by 128.17% compared to the previous year (2022), with 1837 additional incidents. Ransomware groups claimed that they successfully targeted 4191 victims in 2023, Cybernews researchers report. Winter was the least active time (14.6%

Ransomware 115

Ransomware Manufacturing Retail Insurance 115

Information Management Resources

AUGUST 20, 2018

The American Association of Insurance Services will launch the openIDL to share data between carriers and regulators.

Insurance 33

Insurance Blockchain Data migration Compliance 33

Security Affairs

FEBRUARY 12, 2024

The Canadian government is going to ban the tool Flipper Zero because it is abused by crooks to steal vehicles in the country. The Canadian government announced that it plans to ban the tool Flipper Zero , and similar hacking devices, to curb the surge in car thefts. “Criminals have been using sophisticated tools to steal cars.

Sales 94

Sales Government Insurance IT 94

Security Affairs

JANUARY 2, 2024

A team of researchers released a suite of tools that could help victims to decrypt data encrypted with by the Black Basta ransomware. A joint research by Elliptic and Corvus Insurance revealed that the group accumulated at least $107 million in Bitcoin ransom payments since early 2022. ” continues the researchers.

Ransomware 112

Ransomware Encryption Blockchain Insurance 112

Information Management Resources

AUGUST 21, 2018

The group now has 30 insurance carrier members working on distributed-ledger tech solutions for the industry.

Insurance 30

Insurance Blockchain Cybersecurity Analytics 30

Information Management Resources

DECEMBER 15, 2017

Commercial insurer partners with insurtech SizeUp, helping entrepreneurs maximize profits.

Insurance 29

Insurance Big data Analytics 29

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

The Last Watchdog

OCTOBER 5, 2023

Byron: To detect deep fakes, organizations can use digital watermarking, AI-driven detection tools, and media provenance tracking. Erin: Do you think cyber insurance should play a bigger role in companies’ cybersecurity strategies? What factors should organizations consider when selecting a cyber insurance policy?

Cybersecurity 190

Cybersecurity Privacy Cloud IoT 190

CGI

SEPTEMBER 5, 2018

UK Honey Bees and Insurance; an existential threat in the wings? There is of course one difference between the hive and the Insurance sector – the ability to respond. Wed, 09/05/2018 - 04:28.

Insurance 40

Insurance Sales Marketing IT 40

AIIM

JULY 22, 2021

For many businesses, content and data capture tools are highly sought out, particularly in the banking and insurance sectors. However, now robotic process automation (RPA) is matching the features IDP tools offer and throwing their hat into the data capture ring. How RPA Is Matching IDP Technology.

Unstructured data 254

Unstructured data Information capture Insurance Compliance 254

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 86

Insurance Government Cybersecurity Risk 86