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Insurance Industry › Cybersecurity › Personal Data

Paul Hastings LLP

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

Paul Hastings LLP on

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

Woodruff Sawyer

The Voluntary Parting Exclusion: What You Need to Know

Woodruff Sawyer on

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

Woodruff Sawyer

2024 Guide to Cyber Liability Insurance

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Twenty-one percent (21%) of S&P 500 companies experienced breaches in 2023, according to a report by SecurityScorecard. IBM states the average cost of a data breach globally last year was $4.45 million—a 15% increase over the...more

Faegre Drinker Biddle & Reath LLP

Open Insurance: Key Issues to Watch in 2024

Faegre Drinker Biddle & Reath LLP on

Open insurance is a trend gaining traction throughout the global insurance industry. Similar to open banking, it involves the industry moving to a connected data ecosystem powered by open application programming interfaces...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update - July 2020

Skadden, Arps, Slate, Meagher & Flom LLP on

In this month's edition, we examine the Court of Justice of the European Union's decision invalidating the EU-U.S. Privacy Shield framework, as well as the U.S. government's response to the decision. We also examine two...more

White and Williams LLP

Delaware Signs Insurance Data Security Act into Law

White and Williams LLP on

On July 31, 2019, Governor Carney signed the Delaware Insurance Data Security Act (formerly, HB 174) into law. Based on the National Association Of Insurance Commissioners (NAIC) Insurance Data Security Model Law, the...more

K&L Gates LLP

OnRisk: What U.S. Policyholders Should Know About GDPR

K&L Gates LLP on

In this episode of OnRisk, Lucas Tanglen and Jeff Meagher discuss the cyber insurance implications of the European Union’s new privacy regulation—the General Data Protection Regulation or GDPR. The GDPR, which took effect on...more

Troutman Pepper Locke

Are We Covered by the EU GDPR? A Warning for U.S.-Only Businesses

Troutman Pepper Locke on

All U.S. insurers need to pay attention to the new and comprehensive EU-wide privacy law known as the General Data Protection Regulation (GDPR), which takes effect on May 25, 2018. With its greatly expanded compliance...more

Foley & Lardner LLP

NAIC Cybersecurity Task Force Adopts Cybersecurity Bill of Rights

Foley & Lardner LLP on

On October 14, 2015, the National Association of Insurance Commissioners’ (NAIC) Cybersecurity Task Force adopted the Cybersecurity Bill of Rights, a document meant to inform consumers of the services they can expect from...more

Orrick, Herrington & Sutcliffe LLP

Does the Schrems Decision Open the Door to New Cyber Insurance Exclusions?

Orrick, Herrington & Sutcliffe LLP on

The shockwaves continue from the October 6, 2015 ruling of the Court of Justice of the European Union (CJEU), the European Union’s highest court, invalidating the U.S.-EU “Safe Harbor” data transfer regime in a controversy...more

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