News & Analysis as of

Risk Assessment Data Breach Insurance Industry

Sheppard Mullin Richter & Hampton LLP

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

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

Integreon

How AI is Reshaping Cyber Insurance

Integreon on

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

Sands Anderson PC

Insurers & Producers in Virginia: Get Ready for New Data Security and Notification Requirements!

Sands Anderson PC on

Virginia has a new law, the Insurance Data Security Act (New Law), going into effect on July 1, 2020, which will expand the data security and incident notification requirements on insurers licensed in the Commonwealth.  The...more

Farella Braun + Martel LLP

Time to Check Your Cyber Insurance

Now that the CCPA is in effect, some companies will need to revise their policies. The cyber insurance markets are beginning to adapt to the new California Consumer Privacy Act (CCPA) which went into effect on January 1. ...more

Sheppard Mullin Richter & Hampton LLP

Happy First Day of Spring! Ohio Insurance Law Effective Today

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

Sheppard Mullin Richter & Hampton LLP

US Breach Laws Are Coming: South Carolina

In another change to US state breach notice laws in 2019, South Carolina will have new breach notice requirements for insurance companies. The requirements follow the National Association of Insurance Commissioners’ Insurance...more

McGuireWoods LLP

South Carolina Requires Cybersecurity Program for Insurance Licensees

McGuireWoods LLP on

South Carolina has become the first state to enact cybersecurity legislation for the insurance industry. On May 3, Governor McMaster signed a bill requiring South Carolina insurers to “develop, implement, and maintain a...more

Akin Gump Strauss Hauer & Feld LLP

Bay Area Conference Sheds Light on Emerging Cyber Insurance Considerations

On October 11, 2017, the National Association of Insurance Commissioners and the Stanford Cyber Initiative held a joint conference on various topics related to cyber insurance. Below are key takeaways and hot topics discussed...more

Troutman Pepper Locke

Mark Your Calendars: NY Cybersecurity Regulations to Go into Effect

Troutman Pepper Locke on

A covered entity will need to arrange for someone to perform the CISO function, dedicate resources to conduct periodic risk assessments, develop and implement policies and procedures, and retain appropriate personnel and...more

Proskauer on Privacy

New York Department of Financial Services Revises Cybersecurity Proposal: Greater Flexibility and Delayed Compliance Deadlines

Proskauer on Privacy on

As we previously reported, in December 2016 the New York Department of Financial Services (the “DFS”) announced that it was revising its proposed regulation that would require banks, insurance companies and other financial...more

Patterson Belknap Webb & Tyler LLP

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

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

Troutman Pepper Locke

A Guide for Insurers on Creating and Maintaining a Cybersecurity Plan

Troutman Pepper Locke on

The intersection of valuable and personally identifiable digitized information and the increasing incidence of cybersecurity breaches makes the creation and maintenance of a cybersecurity plan one of the most pressing...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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