NAIC Update – Spring 2015
Posted on Apr 22, 2015 in Financial Services | Comments Off on NAIC Update – Spring 2015
The National Association of Insurance Commissioners (NAIC) held its first national meeting for 2015 in Phoenix, Arizona, from March 26 through March 31. Noteworthy new initiatives include cybersecurity, price optimization and the development of a model law for unclaimed life insurance benefits. Other important topics we follow that continue to receive regulatory attention are life...
Update on Cybersecurity Issues – New York Section 308 Letter & NAIC Spring National Meeting
Posted on Apr 3, 2015 in Financial Services | Comments Off on Update on Cybersecurity Issues – New York Section 308 Letter & NAIC Spring National Meeting
Update on Cybersecurity continues to be an emerging regulatory issue in the insurance industry, as evidenced by recent actions taken by the New York Department of Financial Services and the National Association of Insurance Commissioners. Specifically, in a letter dated March 26, the DFS followed up its February 2015 Report on Cybersecurity in the Insurance Sector by requesting...
CFTC Holds Cybersecurity Roundtable March 18
Posted on Mar 24, 2015 in Financial Services | Comments Off on CFTC Holds Cybersecurity Roundtable March 18
As noted in our previous entry, staff from the Commodity Futures Trading Commission (CFTC) held a Public Roundtable on Cybersecurity and System Safeguards Testing on March 18, 2015. The Roundtable, which included participants from the private sector and government agencies, could be a kick-off event for a larger CFTC initiative to address issues related to cybersecurity. The Roundtable...
Director McRaith Outlines FIO’s Cybersecurity Objectives
Posted on Mar 23, 2015 in Financial Services | Comments Off on Director McRaith Outlines FIO’s Cybersecurity Objectives
On March 17, Federal Insurance Office (FIO) Director Michael McRaith outlined FIO’s main cybersecurity objectives for the insurance industry at Networks Financial Institute’s 11th Annual Insurance Public Policy Summit in Washington, D.C. Speaking to an audience that included insurance industry professionals and lobbyists, McRaith detailed the objectives as follows: Support the...
NAIC Amps Up Cybersecurity Oversight
Posted on Mar 18, 2015 in Financial Services | Comments Off on NAIC Amps Up Cybersecurity Oversight
The NAIC has begun its efforts to amp up state insurance department oversight of cybersecurity practices with the release of two documents for public comment. The first, entitled Principles for Effective Cybersecurity Insurance Regulatory Guidance, is a document listing 18 principles for effective regulatory guidance regarding the protection of the insurance sector’s data security and...
Crunching the Numbers in NYDFS’ Cybersecurity Report
Posted on Mar 9, 2015 in Financial Services | Comments Off on Crunching the Numbers in NYDFS’ Cybersecurity Report
On February 9, the New York Department of Financial Services was the first insurance regulator to address cybersecurity when it issued its Report on Cyber Security in the Insurance Sector that summarizes the results of a survey completed by 43 insurers about their cybersecurity programs, costs and future plans. In their article for Law360, Sutherland Partners Mary Jane Wilson-Bilik and...
Subscribe
FEATURED
Check out the BreachLawWATCH app which allows easy access to data breach statutes across the United States and a growing number of jurisdictions.
Video: As the challenges cybersecurity and data privacy present are often global
