News & Analysis as of

Data Breach Insurance Industry Cybersecurity

Pillsbury Winthrop Shaw Pittman LLP

NYDFS Imposes $2M Penalty for Violations of its Cybersecurity Regulation

The New York State Department of Financial Services (NYDFS) announced on August 14, 2025, resolution of civil enforcement action requiring Healthplex, Inc., a licensed insurance agent and independent adjuster, to pay a $2...more

Paul Hastings LLP

You’ve Got Mail: NYDFS Enforcement Action Highlights Cybersecurity Risk of Over-Retention and Other Risks

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On Aug. 14, 2025, the New York Department of Financial Services (NYDFS) issued a Consent Decree announcing that Healthplex, Inc. (Healthplex) has agreed to pay a $2 million fine, as a result of an investigation into a 2021...more

Fisher Phillips

Missouri Adopts New Data Breach Notice Law for Insurers – The 10 Things Insurers and Licensed Entities Need to Know

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As cybersecurity threats escalate, state legislatures across the country are tightening requirements for how insurance entities respond to data breaches – and thanks to a new law just passed several weeks ago, Missouri is...more

Bradley Arant Boult Cummings LLP

Defining Artificial Intelligence for Cyber and Data Privacy Insurance

A small but growing number of cyber insurers are incorporating language into their policies that specifically addresses risks from artificial intelligence (AI). The June 2025 issue of The Betterley Report’s Cyber/Privacy...more

Maynard Nexsen

Urgent Cybersecurity Briefing: Scattered Spider Attacks

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Several insurance companies have been targeted this month by cyberattacks, including AFLAC, Erie Insurance, and Philadelphia Insurance. The threat actor, Scattered Spider, is now focusing on the insurance industry. We want to...more

McCarter & English, LLP

Don’t Get Caught in Scattered Spider’s Web

The cybercrime group known as Scattered Spider is at it again, according to Google’s Threat Intelligence Group. This criminal group is known to focus its cyber attacks on one sector at a time. Last spring, it was the retail...more

Cozen O'Connor

NY Settles With Insurer on Data Breach Rooted in Security Deficiencies

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New York AG Letitia James settled with Root Insurance Company to resolve allegations that the company’s data security deficiencies led to a 2021 data breach involving 72,000 people, in violation of state consumer protection...more

Troutman Pepper Locke

When to Notify Your Cyber Carrier of a Security Incident - Dear Mary – Incidents + Investigations Cybersecurity Advice Column

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Our company experienced a cybersecurity incident. It seemed pretty minor — just a few suspicious emails and an employee’s account being locked. To my dismay, we’re now hearing from our IT team that the issue is more serious....more

Hogan Lovells

Navigating the complexities of cyber insurance: a guide for policyholders

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In today's digital age, the cyber threat landscape is changing faster than ever before. As businesses and individuals increasingly rely on technology, understanding the complexities of cyber insurance has never been more...more

Rivkin Radler LLP

February 2025 Insurance Update

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The 2014 Home Depot data breach was one of the more notorious cyberattacks. A decade later, litigation over that incident continues. The Sixth Circuit recently decided whether an electronic data exclusion cleared insurers...more

Zelle  LLP

Employee Theft of Electronic Data Is Not Direct Physical Damage to or Direct Physical Loss of Business Personal Property

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In Site Jab v. Hiscox Insurance Company, Inc., United States District Judge Lee H. Rosenthal recently tackled whether a business owner’s insurance policy provided coverage for theft of information, including confidential...more

Goodwin

Tips for Maximizing Your Cyber Insurance Program

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A strong cyber insurance program is a critical risk management tool for companies, regardless of size or industry focus. When properly crafted, cyber insurance should protect a company against the costs of investigating cyber...more

Miller Nash LLP

Enterprise Liability Insurer Has Duty to Defend Against a Vendor’s Claim, Even When Presented as an Invoice for “Usage Fees”

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In a win for policyholders, a federal court in Washington recently held that an insurer had a duty to defend a technology company against a vendor’s demand for damages it allegedly suffered when hackers accessed software...more

Fox Rothschild LLP

AI Talk With Juliana Neelbauer - Episode Two - Cybersecurity Insurance: The New Frontier of Risk Management

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Is your cyber insurance policy sufficient to protect your company? As criminals leverage AI and other emerging technologies to exploit vulnerabilities in cybersecurity defenses, it’s critical to assess your company’s...more

Barnea Jaffa Lande & Co.

Cybersecurity Enforcement Tightens in NY, Reflecting a Trend

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The New York State Department of Financial Services (NYDFS) and the Attorney General’s office have recently imposed significant fines totalling $11.3 million on Geico and Travelers for data breaches that compromised the...more

Orrick, Herrington & Sutcliffe LLP

NYDFS secures $11.3M in penalties from auto insurers for data breaches

On November 25, NYDFS announced settlements with two auto insurance companies for inadequate data security that compromised the personal information of over 120,000 New York consumers and secured $11.3 million in total...more

Integreon

On-Demand Webinar: Bring Predictability to the Spiraling Cost of Cyber Incident Response Data Mining

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Cyber breach costs are skyrocketing, and staying on top of incident response is crucial for both insureds and insurers. Learn how to manage unpredictable costs and work more efficiently with vendors in our on-demand webinar...more

Integreon

How AI is Reshaping Cyber Insurance

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AI emerges as both threat and solution in cyber insurance, reshaping risk assessment and breach response. AI is transforming the work of professionals everywhere. Unfortunately, that includes cybercriminals....more

Bond Schoeneck & King PLLC

Insurance Companies Face $11.3 Million in Fines Due to Cybersecurity Failures

In yet another example of the importance of a robust cybersecurity and data protection system, New York Attorney General (OAG) and the New York State Department of Financial Services (DFS) collectively fined the insurance...more

Arnall Golden Gregory LLP

Preparing for Enhanced POPIA Enforcement in South Africa

Recent statements by South Africa’s Information Regulator (“IR”) indicate an impending crackdown on data privacy compliance, specifically within the banking and insurance sectors. The IR has announced its intention to enforce...more

Lowenstein Sandler LLP

Cyber Insurance for Operational Technology: Where Computers Touch the Real World

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On this episode of “Don’t Take No for An Answer,” Lynda A. Bennett, Chair of Lowenstein’s Insurance Recovery Group, speaks with David Anderson, Vice President of Cyber at Woodruff Sawyer, about the difference between...more

Woodruff Sawyer

The Voluntary Parting Exclusion: What You Need to Know

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The US Internet Crime Complaint Center (IC3) received more than 880,000 cybercrime complaints in 2023. Overall financial losses from cybercrime last year reached $12.5 billion, a record-setting year-over-year increase of...more

Spilman Thomas & Battle, PLLC

Decoded - Technology Law Insights, V 5, Issue 7, August 2024

Welcome to our seventh 2024 issue of Decoded - our technology law insights e-newsletter. We have a few events we want to pass along to those interested in technology, but also other areas of law and business. ...more

HaystackID

Alarming Insurance Gaps and Soaring Breach Rates Call for a United Front in Cybersecurity

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Editor's Note: The convergence of CYE's and Surfshark's analyses reveals a critical juncture in the fight against cyber threats. With the U.S. leading global data breaches and businesses facing significant insurance coverage...more

Kohrman Jackson & Krantz LLP

You’ve Been Hacked. Who You Gonna Call?

Your company was hacked. You feel panic, embarrassment, anger, fear and confusion. But you must act quickly, logically and decisively to stop the bleeding and protect your business, your customers and your employees. The good...more

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