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Insurance Industry › Cyber Attacks › Risk Assessment

Sheppard Mullin Richter & Hampton LLP

Auto Insurer Settles With New York AG Over Insurance Application Platform Security Issues

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The New York Attorney General recently entered into an assurance of discontinuance with Root Insurance Company following a 2021 data incident. According to the AG, the threat actors obtained people’s drivers’ license numbers...more

Ankura

The Cybersecurity Insurance Market: What to Expect in 2023

Ankura on

In recent years, especially through 2019 and 2020, the cyber insurance market in the U.S. has seen significant growth. Middle-market companies have been actively requesting cyber insurance policies with low rates and broad...more

Rivkin Radler LLP

DFS Provides Framework For Cybersecurity Risk

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On February 4, 2021, New York’s Department of Financial Services (DFS) issued Insurance Circular Letter No. 2, which builds on the robust cybersecurity regulation provided in its 2017 Cybersecurity Regulation (23 NYCRR 500)....more

Morrison & Foerster LLP

Following U.S. Lead, UK Office Of Financial Sanctions Implementation Issues Maritime Guidance

Morrison & Foerster LLP on

Much of the world’s focus is on the COVID-19 pandemic, and rightfully so, but sanctions regulators also have their gazes fixed on another issue: the maritime industry. On May 14 2020, we saw the U.S. Departments of State and...more

Sheppard Mullin Richter & Hampton LLP

Happy First Day of Spring! Ohio Insurance Law Effective Today

Sheppard Mullin Richter & Hampton LLP on

Ohio recently followed South Carolina as the second state to adopt cybersecurity legislation modeled after the NAIC’s Insurance Data Security Model Law. The Ohio law, Senate Bill 273, applies to insurers authorized to do...more

Patterson Belknap Webb & Tyler LLP

DFS Cyber Regulation: Part II – An Interview with Bay Dynamics’ Steven Grossman

Patterson Belknap Webb & Tyler LLP on

This is the second installment in our interview with Steven Grossman, VP Strategy & Enablement at Bay Dynamics, the cyber risk analytics company. Here, Steven discusses the importance of aligning an institution’s risk...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update: New York State Proposes Cybersecurity Regulation for Financial Institutions

Skadden, Arps, Slate, Meagher & Flom LLP on

New York state has proposed a new regulation — to go into effect January 1, 2017 — that would require banks, insurance companies and other financial services institutions regulated by the New York State Department of...more

Cozen O'Connor

Cyber Attackers Reach Anthem, Health Care Providers Seen As Vulnerable

Cozen O'Connor on

Anthem, one of the nation’s largest health insurers, announced last Wednesday that it had been attacked by cyber hackers and that personal information for as many as 80 million individuals had been compromised....more

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