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NYDFS issues significant guidance on insurers using AI or external data

Data Protection Report

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.

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What Is Integrated Risk Management? Definition & Implementation

eSecurity Planet

The 911 call center needs a robust phone system, trained staff, and a decision-tree process to understand how to route issues to the appropriate emergency or non-emergency agencies to address a caller’s needs. In this stage, incorporate governance or compliance concerns and establish the risk appetite (maximum amount of losses tolerable).

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What is Confidential Computing? Definition, Benefits, & Uses

eSecurity Planet

This approach to analytics is especially helpful in industries like insurance and healthcare where analyzing and interpreting broad patterns can inform insurance rates and diagnostics, respectively. The organization is led by two governing officers, a board of directors, committee chairs, and various staff.

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What Is Encryption? Definition, How it Works, & Examples

eSecurity Planet

For example, The Health Insurance Portability and Accountability Act (HIPAA) requires security features such as encryption to protect patients’ health information. Pressure on both professional and personal encryption can also be seen in government legislation.

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CrowdStrike: Lessons on the Importance of Contracts, Insurance and Business Continuity

IT Governance

According to Parametrix , an insurance company specialising in Cloud outages, cyber insurance policies likely cover up to 10–20% of losses only. Then there’s insurance. As an example, if you’re a training provider, then sure – your streaming software going down or a laptop breaking are potential problems.

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How to Get Executive Support for Your Next Information Governance Initiative

AIIM

Back in 2017, I called up a few of the information governance friends I’d made through the AIIM Community to better understand the challenges they were up against. Four years later, we're finally seeing this shift in governance mindsets in nearly every AIIM member organization we speak with. Hurdles to Information Governance Success.

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Top 6 Best Practices for Data Governance

Collibra

Data governance is a very intricate field, so implementing and sustaining data governance comes with a suite of challenges. Luckily, thousands, if not millions, of organizations use data governance to improve their operations, so you can learn from others’ mistakes and successes. Focus on the operating model.