IT Governance

MAY 24, 2022

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.

Insurance 133

Insurance Data breaches GDPR Ransomware 133

Data Matters

SEPTEMBER 7, 2023

The National Association of Insurance Commissioners (NAIC) held its Summer 2023 National Meeting (Summer Meeting) from August 12–16, 2023. The post Regulatory Update: National Association of Insurance Commissioners Summer 2023 National Meeting appeared first on Data Matters Privacy Blog.

Insurance 86

Insurance Artificial Intelligence Privacy Security 86

Data Matters

APRIL 19, 2023

The National Association of Insurance Commissioners (NAIC) held its Spring 2023 National Meeting (Spring Meeting) March 21–25, 2023. The post Regulatory Update: National Association of Insurance Commissioners Spring 2023 National Meeting appeared first on Data Matters Privacy Blog.

Insurance 86

Insurance Privacy Security IT 86

Dark Reading

SEPTEMBER 10, 2020

Whilst GDPR has put the spotlight on data privacy and cyber issues, there are other more prominent trends that are driving a greater take-up of cyber insurance, says Ben Maidment, Class Underwriter - Cyber, Physical & Technology at Brit Insurance.

Insurance 103

Insurance GDPR Data Privacy Cybersecurity 103

Data Matters

OCTOBER 20, 2022

Treasury Department is seeking public comment on the need and scope for a potential federal insurance response to catastrophic cyber incidents, akin to the one put in place for terrorism insurance after the attacks of September 11, 2001. The request, published by the Federal Insurance Office (FIO) in the U.S. Background.

Insurance 86

Insurance Marketing Cybersecurity Risk 86

Data Matters

FEBRUARY 2, 2021

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).).

Insurance 113

Insurance Security Compliance Privacy 113

Hunton Privacy

MAY 4, 2022

In April 2022, two states enacted insurance data security legislation based on the National Association of Insurance Commissioners (“NAIC”) Insurance Data Security Model Law (MDL-668).

Insurance 110

Insurance Security Compliance Information Security 110

The Last Watchdog

JANUARY 20, 2020

To help mitigate the risk of financial losses, more companies are turning to cyber insurance. Related: Bots attack business logic Cyber insurance, like other forms of business insurance, is a way for companies to transfer some of numerous potential liability hits associated specifically with IT infrastructure and IT activities.

Insurance 222

Insurance Data breaches Cybersecurity Risk 222

IBM Big Data Hub

APRIL 24, 2024

These are just some examples of how organizations support data privacy , the principle that people should have control of their personal data, including who can see it, who can collect it, and how it can be used. One cannot overstate the importance of data privacy for businesses today.

Data Privacy 78

Data Privacy Privacy GDPR Personal data 78

Krebs on Security

MAY 24, 2019

The Web site for Fortune 500 real estate title insurance giant First American Financial Corp. based First American is a leading provider of title insurance and settlement services to the real estate and mortgage industries. First American Financial Corp. Image: Linkedin. Santa Ana, Calif.-based billion in 2018.

Insurance 278

Insurance Authentication Mining Sales 278

Schneier on Security

APRIL 26, 2024

Kashmir Hill has a really good article on how GM tricked its drivers into letting it spy on them—and then sold that data to insurance companies.

Insurance 120

Insurance IT Privacy 120

eSecurity Planet

AUGUST 9, 2022

Regulatory compliance and data privacy issues have long been an IT security nightmare. GDPR, the EU’s flagship data privacy and “right to be forgotten” regulation, has made the stakes of a data breach higher than ever. GDPR-style data privacy laws came to the U.S. with the California Consumer Privacy Act (CCPA) effective Jan.

Data Privacy 145

Data Privacy Compliance Privacy Security 145

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. The risk of privacy leakage from interaction with AI technologies is a major source of consumer concern and mistrust.

Insurance 68

Insurance Risk Artificial Intelligence Government 68

Thales Cloud Protection & Licensing

JULY 4, 2022

How Cybersecurity Insurance Can Work To Help An Organization. In the last 20+ years, cybersecurity insurance has added risk transference to the available palette of palliative choices. In the last 20+ years, cybersecurity insurance has added risk transference to the available palette of palliative choices. regulations.

Insurance 71

Insurance Cybersecurity Cleanup Ransomware 71

Thales Cloud Protection & Licensing

MAY 10, 2022

Checklist for Getting Cyber Insurance Coverage. The necessity for cyber-insurance coverage. With cyber attacks amounting to a question of when and not if, cyber insurance becomes crucial for ensuring business continuity and mitigating the business impact of attacks – should they occur. Tue, 05/10/2022 - 05:43.

Insurance 77

Insurance Authentication Risk Ransomware 77

Thales Cloud Protection & Licensing

MARCH 5, 2023

In the fragmented insurance landscape, let’s unify customer experience divya Mon, 03/06/2023 - 06:13 You may think of an insurance company as a singularly-focused entity, offering protection for one product. However, the insurance business reaches across a disparate range of consumer products. To add to the challenge, a.s.r.

Customer Experience 71

Customer Experience Insurance B2C B2B 71

Hunton Privacy

JUNE 9, 2022

515 , making Vermont the twenty-first state to enact legislation based on the National Association of Insurance Commissioners Insurance Data Security Model Law (“MDL-668”). On May 27, 2022, Vermont Governor Phil Scott signed H.515 Information Security Program Requirements.

Insurance 107

Insurance Security Information Security Cybersecurity 107

Data Protection Report

JANUARY 4, 2024

December tends to be a busy time for everyone, so you may have missed a privacy update or two. We have set out some updates in the form of questions, with links in the answers where you can find more information. (For For those making this quiz a competitive event, we have included a tie-breaker/bonus question.) Answers are below.

Privacy 111

Privacy Cybersecurity Artificial Intelligence e-Discovery 111

Data Protection Report

JANUARY 30, 2023

Late December and early January tend to be a busy time for everyone, so you may have missed a privacy update or two during that time. 3. Does an insurance policy that covers direct physical loss or damage to media cover the situation where ransomware renders downloaded software useless because it could not be decrypted?

Privacy 115

Privacy Cybersecurity Personal data Insurance 115

DLA Piper Privacy Matters

NOVEMBER 3, 2022

Anyone with a passing interest in Australian privacy laws will no doubt have heard about the Optus data breach. The news was swiftly followed up with an announcement from Medibank, Australia’s largest private health insurer, of a breach affecting all of its 3.9 Author: Sarah Birkett. million customers.

Privacy 97

Privacy Data breaches Insurance Government 97

Krebs on Security

NOVEMBER 19, 2021

Ken Otsuka is a senior risk consultant at CUNA Mutual Group , an insurance company that provides financial services to credit unions. Naturally, a great deal of phishing schemes that precede these bank account takeovers begin with a spoofed text message from the target’s bank warning about a suspicious Zelle transfer.

IT 360

IT Passwords Authentication Phishing 360

Hunton Privacy

NOVEMBER 14, 2023

The California Privacy Protection Agency (“CPPA”) Board (the “Board”) announced an upcoming public meeting to take place over Zoom on Friday, December 8, 2023 at 9 am PST. Additionally, the Board announced on its agenda a discussion surrounding proposed insurance regulations and a discussion on a proposed registration fee for data brokers.

Privacy 69

Privacy Insurance Cybersecurity Risk 69

Hunton Privacy

MAY 10, 2022

On May 10, 2022, Connecticut Governor Ned Lamont signed An Act Concerning Personal Data Privacy and Online Monitoring , after the law was previously passed by the Connecticut General Assembly in April. Connecticut is now the fifth state to enact a consumer privacy law. As with most of the existing U.S.

Privacy 118

Privacy Personal data Sales B2B 118

Hunton Privacy

NOVEMBER 15, 2023

The Australian legislature increased maximum penalties for ‘serious’ contraventions of the Privacy Act with effect from December 2022 to at least A$50 million. However, the maximum penalty available in this case will be A$2.2 million because the company’s conduct occurred prior to December 2022.

Data breaches 128

Data breaches Privacy Risk Information Security 128

DLA Piper Privacy Matters

MARCH 27, 2023

LOPMI introduces amendments to the insurability of losses and damages paid in response to cyber-attacks, including in relation to ransom payments – requiring that the payment of insurance compensation be conditional on the filing of a complaint, within a 72 hour time frame, to competent authorities.

Insurance 52

Insurance Risk Ransomware Cybersecurity 52

IT Governance

DECEMBER 11, 2023

Source (New) Transport USA Yes 129,611 Tcman Source (New) Manufacturing Spain Yes 108 GB (179 files) Compass Group Italia Source (New) Hospitality Italy Yes 107 GB Pan-American Life Insurance Group, Inc. Incorporated Source (Update) Insurance USA Yes 7,361 Advantis Global, Inc. Data breached: 5 TB. and Robert W. Baird & Co.

Data Privacy 89

Data Privacy Energy and Utilities Privacy Manufacturing 89

Hunton Privacy

JULY 12, 2023

On June 22, 2023, the Oregon House of Representatives passed the Oregon Consumer Privacy Act ( S.B. If signed, the OCPA would make Oregon the 12th state to have enacted comprehensive privacy legislation. 619 ) (the “OCPA”), which was previously passed by the Oregon Senate on June 20, 2023.

Privacy 52

Privacy Personal data Insurance Sales 52

Collibra

JUNE 23, 2023

The ever-growing digitalization of our world has raised significant concerns about data privacy and security, particularly for agencies that manage and process sensitive and confidential information. Focus: Regulatory frameworks Within the United States there are a number of regulatory frameworks that address citizen privacy.

Privacy 109

Privacy Government Data Privacy Data breaches 109

The Last Watchdog

JUNE 9, 2022

A criminal exploiting someone’s medical or insurance details to make fraudulent claims is known as medical identity theft. Because the scammer’s health records are linked to the victims’ information, it may not be easy to qualify for insurance in the future. A variety of factors play a role.

Privacy 274

Privacy Security Phishing Insurance 274

Data Matters

JANUARY 14, 2019

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.”.

Insurance 66

Insurance Security Cybersecurity Data breaches 66

Hunton Privacy

MARCH 24, 2022

following California, Virginia and Colorado, to enact a consumer data privacy law, the Utah Consumer Privacy Act (the “UCPA”). With respect to the processing of personal data “concerning a known child” (under age 13), controllers must process such data in accordance with the Children’s Online Privacy Protection Act.

Privacy 113

Privacy Personal data Sales B2B 113

Data Matters

FEBRUARY 11, 2019

On December 28, 2018, Michigan adopted the National Association of Insurance Commissioners’ (NAIC) Insurance Data Security Model Law in the form of Michigan H.B. The Act defines licensees as persons authorized, registered, or licensed under Michigan insurance laws or required to be so. 6491 (Act). MCL § 500.550. MCL § 500.550.

Insurance 66

Insurance Security Cybersecurity FOIA 66

Data Matters

FEBRUARY 10, 2021

2 announcing a Cyber Insurance Risk Framework (the Framework) that describes industry best practices for New York-regulated property/casualty insurers. According to NYDFS, the incorporation of these practices should be proportionate to each insurer’s size, resources, geographic distribution, and other factors. The Framework.

Insurance 77

Insurance Financial Services Cybersecurity Risk 77

IT Governance

DECEMBER 5, 2023

According to CyberNews , more than 300 million data records were compromised, including 21,000 telephone numbers and 31,000 email addresses. Some payment card data was also exposed. Data breached: over 300 million records. The company’s description of the incident suggested ransomware.

Data Privacy 92

Data Privacy Privacy Manufacturing Retail 92

Hunton Privacy

DECEMBER 4, 2023

On November 28, 2023, the New York Department of Financial Services (“NYDFS”) announced that First American Title Insurance Company (“First American”), the second-largest title insurance company in the United States, would pay a $1 million penalty for violations of the NYDFS Cybersecurity Regulation in connection with a 2019 data breach.

Financial Services 64

Financial Services Insurance Data breaches Cybersecurity 64

Data Matters

APRIL 15, 2022

Utah has become the fourth state, following California, Virginia and Colorado, to enact a comprehensive consumer data privacy law. The Utah Consumer Privacy Act (“UCPA”), formerly known as Senate Bill 227, passed the Utah Senate and House with no opposition, and was signed by Governor Cox on March 24, 2022. Future Evolution of the Law.

Privacy 105

Privacy Personal data Sales Insurance 105

Hunton Privacy

NOVEMBER 27, 2017

Andrews, chair of the insurance coverage practice at Hunton & Williams, addressed the insurability of cybersecurity risks, explaining that “we’ve seen a sea change in a lot of areas in the last two years…There will always be liability no matter what, but cyber insurance has gone from a product a few companies acquired to one held by almost all.

Insurance 45

Insurance Privacy Cybersecurity Risk 45