EU-US Privacy Shield: European Union and U.S. Reach Agreement in Principle for New Data Transfer Framework – But Uncertainty Remains
Posted on Feb 11, 2016 in Energy and Infrastructure, Financial Services, Insurance | Comments Off on EU-US Privacy Shield: European Union and U.S. Reach Agreement in Principle for New Data Transfer Framework – But Uncertainty Remains
On February 2, 2016, the European Commission (EC) and the U.S. Department of Commerce (Commerce) announced that they had reached agreement on a new data transfer safe harbor arrangement for the transfer of personal data from Europe to the U.S. The new safe harbor pact, called the EU-US Privacy Shield, was negotiated in the wake of the EU Court of Justice’s (CJEU) decision in October...
NAIC Task Force Adopts a Cybersecurity “Bill of Rights” Despite Industry Objections
Posted on Oct 29, 2015 in Insurance | Comments Off on NAIC Task Force Adopts a Cybersecurity “Bill of Rights” Despite Industry Objections
On October 14, the National Association of Insurance Commissioners Cybersecurity Task Force (NAIC Task Force) adopted a version of the Cybersecurity Bill of Rights for insurance consumers. The Bill of Rights claims to outline the rights insurance consumers can expect when insurers, agents and other businesses collect personal consumer information and experience data breaches. It was...
NAIC Adopts New Cybersecurity Exam Tool
Posted on Sep 23, 2015 in Insurance | Comments Off on NAIC Adopts New Cybersecurity Exam Tool
On September 21, the National Association of Insurance Commissioners IT Examination Working Group adopted amendments to the IT section of the Financial Condition Examiners Handbook to strengthen the Handbook’s already existing cybersecurity guidance. Charged with improving this guidance, the Working Group compared the Handbook’s guidance to the National Institute of Standards and...
NAIC Cybersecurity Forum Focuses on Escalating Threats and Best Remediation Practices
Posted on Sep 14, 2015 in Insurance | Comments Off on NAIC Cybersecurity Forum Focuses on Escalating Threats and Best Remediation Practices
On September 10, the National Association of Insurance Commissioners (NAIC) co-sponsored a cybersecurity forum at the Center for Strategic and International Studies in Washington, DC. Featuring an impressive line-up of senior government officials and knowledgeable experts, the forum aimed to increase understanding of the escalating threat environment, emerging best practices in cyber...
NAIC Working Group Exposes Revisions to Incorporate Cybersecurity Considerations into Financial Conditions Examiners Handbook
Posted on Jul 24, 2015 in Insurance | Comments Off on NAIC Working Group Exposes Revisions to Incorporate Cybersecurity Considerations into Financial Conditions Examiners Handbook
In an effort to set cybersecurity readiness standards for the insurance industry, the National Association of Insurance Commissioners (NAIC) IT Examination (E) Working Group (“Working Group”) has exposed revisions to incorporate Cybersecurity Considerations (“Considerations”) into the NAIC Financial Conditions Examiners Handbook (“Handbook”). The Considerations instruct examiners to...
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