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Insurance Industry › NYDFS › Multi-Factor Authentication

Pillsbury Winthrop Shaw Pittman LLP

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

Pillsbury Winthrop Shaw Pittman LLP on

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

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

Husch Blackwell LLP

Effective Dates Draw Near for Insurance Industry to Comply with NYDFS's Cybersecurity Rules

Husch Blackwell LLP on

As part of a multiyear rollout, the New York Department of Financial Services (NYDFS) has established May 1, 2025, and November 1, 2025, as effective dates for certain amendments to its cybersecurity regulations. These...more

Troutman Pepper Locke

NY DFS Releases Guidance on Multi-Factor Authentication

Troutman Pepper Locke on

On December 7, 2021, the New York Department of Financial Services (“NY DFS”) released an industry letter providing guidance on Multi-Factor Authentication (“MFA”). MFA, which requires users of information systems to...more

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