Data Sentinel: The Evolving Role of the Attorney as Protector of Company Data
Posted on Mar 7, 2016 in Financial Services, Insurance | Comments Off on Data Sentinel: The Evolving Role of the Attorney as Protector of Company Data
Data. It is one of your organization’s greatest assets, and a necessary part of doing business. But in today’s financial services environment, it is also a source of one of your organization’s greatest risks. In their article for FinTech Law Report, Sutherland attorneys Michael Steinig and Mary Jane Wilson-Bilik describe the attorney’s evolving role in protecting company data, and...
Pros and Cons of the Payment Card Industry Data Security Standard
Posted on Mar 1, 2016 in Financial Services, Insurance | Comments Off on Pros and Cons of the Payment Card Industry Data Security Standard
The Payment Card Industry Data Security Standard (the PCI DSS) establishes the self-described minimum data protection measures required of all entities involved in payment card transactions. The PCI DSS consists of 12 basic requirements, along with testing procedures and guidance designed to assist entities in meeting each requirement. The PCI DSS itself is not a law or regulation, and...
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 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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