Remove 2021 Remove Insurance Remove Privacy
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Top 8 Cyber Insurance Companies for 2022

eSecurity Planet

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%

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NAIC Insurance Data Security Law Annual Certifications: Is Yours Due By February 15?

Data Matters

The National Association of Insurance Commissioners’ (NAIC) Insurance Data Security Model Law has been adopted in at least 11 states, with several others (including New York) having implemented either older or similar laws or administrative guidance. appeared first on Data Matters Privacy Blog. See MCL § 500.555(9).).

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Why Cyber Insurance is Essential in 2022

IT Governance

One of the most common ways to mitigate the risk of a cyber security incident is cyber insurance. These activities aren’t typically included in standard business insurance policies, which tend to only cover costs related to technical issues, such as corrupted hard drives and lost devices. The benefits of cyber insurance.

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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. The changes are effective December 31, 2021.

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Australian Privacy Regulator Sues in Data Breach Case

Hunton Privacy

The Australian legislature increased maximum penalties for ‘serious’ contraventions of the Privacy Act with effect from December 2022 to at least A$50 million. The company acquired Medlab Pathology (“Medlab”) in December 2021. If made out, this would be a breach of Australian Privacy Principle 11.1. Class actions.

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New Connecticut Breach Notification Requirements and Cybersecurity Safe Harbor Effective October 2021

Hunton Privacy

Connecticut recently passed two cybersecurity laws that will become effective on October 1, 2021. On June 16, 2021, Connecticut Governor Ned Lamont signed HB 5310, An Act Concerning Data Privacy Breaches. New Breach Notification Requirements (HB 5310). Cybersecurity Safe Harbor (HB 6607).

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New York Department of Financial Services Issues First Guidance by a U.S. Regulator Concerning Cyber Insurance

Data Matters

On February 4, 2021, the New York Department of Financial Services (NYDFS) issued Circular Letter No. 2 announcing a Cyber Insurance Risk Framework (the Framework) that describes industry best practices for New York-regulated property/casualty insurers. Insurers should: Establish a Formal Cyber Insurance Risk Strategy.