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Lloyd’s Will No Longer Include Nation-State Attacks in its Cyber Insurance Policies

IT Governance

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 100
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Regulatory Update: NAIC Fall 2018 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Fall 2018 National Meeting (Fall Meeting) in San Francisco, California, from November 15 to 18, 2018. This post summarizes the highlights from this meeting. NAIC Continues its Evaluation of Insurers’ Use of Big Data. sector; and.

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Regulatory Update: NAIC Summer 2018 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Summer 2018 National Meeting in Boston, Massachusetts, from August 4 to 7, 2018. This post summarizes the highlights from this meeting. NAIC Continues its Evaluation of Insurers’ Use of Big Data .

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NEW TECH: This free tool can help gauge, manage third-party cyber risk; it’s called ‘VRMMM’

The Last Watchdog

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 147
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New Cybersecurity Rules for Financial Institutions in New York State Take Effect November 1, 2024

Thales Cloud Protection & Licensing

These new rules date back to March 1, 2017, when the NYDFS implemented comprehensive cybersecurity regulations for financial services companies and other covered entities. The regulations were most recently updated on November 1, 2023, with phased effective dates starting on December 1, 2023.

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

HL Chronicle of Data Protection

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.

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Cyber resilience in the Scottish public sector: meeting the Cyber Essentials certification deadline

IT Governance

As part of this initiative, the government launched the Public Sector Action Plan in November 2017. A number of the key deadlines have already passed, so all Scottish public bodies must now have: Implemented minimum cyber risk governance arrangements; and. Cyber Essentials Plus requires a more advanced level of assurance.