The first half of 2023 saw a flurry of activity in the privacy and data security spaces. We outline below some of the key developments of interest to the insurance industry....more
Background On May 19, 2023, the First Circuit Court of Appeals ruled in Green Enterprises, LLC v. Hiscox Syndicates Ltd. at Lloyd’s of London that the New York Convention on the Recognition and Enforcement of Foreign Arbitral...more
The “balancing act” of insurance regulation across jurisdictions, policymakers, and stakeholders took center stage at the 18th Annual Networks Financial Institute Insurance Public Policy Summit on May 17 in Washington D.C....more
On July 29, 2022, the New York Department of Financial Services (NYDFS) published the pre-proposed second amendment to its Cybersecurity Regulations, 23 NYCRR 500 (Part 500), that if adopted, would likely require numerous...more
9/2/2022
/ Covered Entities ,
Cybersecurity ,
Enforcement ,
Exemptions ,
Financial Institutions ,
Financial Services Industry ,
Incident Response Plans ,
Multi-Factor Authentication ,
Notice Requirements ,
NYDFS ,
Policies and Procedures ,
Popular ,
Second Amendment ,
Third-Party Service Provider
The first half of 2022 brought plenty of activity in the data privacy and cybersecurity space, much of which is applicable to or of interest to the insurance industry. We outline some of this activity below.
Revisions to...more
On June 23, 2022, the New York State Department of Financial Services (NYDFS) announced the entry of a Consent Order in connection with its most recent cybersecurity enforcement action, which included a $5 million monetary...more
Faegre Drinker’s insurance team will once again be well-represented at the National Association of Insurance Commissioners’ Spring National Meeting from April 4-8 in Kansas City. As pandemic restrictions ease, we expect broad...more
On December 22, 2021, Gov. Kathy Hochul signed Senate Bill S653A, relating to electronic delivery of property/casualty insurance notices. This bill amends the New York Insurance Law by adding section 3458, which takes effect...more
In 2010, the NAIC adopted the Insurer Climate Risk Disclosure Survey (Survey) “for state insurance regulators, investors, and consumers to identify trends, vulnerabilities, and best practices by collecting information about...more
State insurance departments across the country are continuing to provide guidance in response to the coronavirus outbreak. Faegre Drinker has aggregated a list of current guidance from state departments of insurance...more
State insurance departments across the country are continuing to provide guidance in response to the coronavirus outbreak. Faegre Drinker has aggregated a list of current guidance from state departments of insurance...more
As the COVID-19 pandemic continues to sweep across the United States, numerous state governments — including Pennsylvania’s — have ordered all “non-essential” or “non-life-sustaining” businesses to close their...more
State insurance departments across the country are continuing to provide guidance in response to the COVID-19 outbreak. In this update, Faegre Drinker spotlights the current Texas Department of Insurance (TDI) guidance with...more
State insurance departments across the country are continuing to provide guidance in response to the COVID-19 outbreak. In this update, Faegre Drinker spotlights the current Illinois Department of Insurance (Department)...more
State insurance departments across the country are continuing to provide guidance in response to the COVID-19 outbreak. In this update, Faegre Drinker spotlights the current Maryland Insurance Administration (MIA) guidance...more
State insurance departments across the country are continuing to provide guidance in response to the COVID-19 outbreak. In this update, Faegre Drinker spotlights the current Washington State Office of the Insurance...more
State insurance departments across the country are continuing to provide guidance in response to the COVID-19 outbreak. In this update, Faegre Drinker spotlights the current California Department of Insurance (CDI) guidance...more
3/31/2020
/ Auto-Renewal ,
Business Interruption ,
Coronavirus/COVID-19 ,
Department of Insurance ,
DMV ,
Driver's Licenses ,
Health Care Providers ,
Insurance Industry ,
Operators of Essential Services ,
Premiums ,
Reporting Requirements ,
State and Local Government ,
Telehealth
State insurance departments across the country are continuing to provide guidance in response to the COVID-19 outbreak. In this update, Faegre Drinker spotlights the current Florida Office of Insurance Regulation (OIR)...more
State insurance departments across the country are continuing to provide guidance in response to the coronavirus outbreak. Faegre Drinker has aggregated a list of current guidance from state departments of insurance...more
On September 9, 2019, the states of New York, California, Connecticut, Delaware, Maine, New Mexico and Oregon, and the District of Columbia (collectively, the States) filed a complaint for declaratory and injunctive relief...more
9/11/2019
/ Arbitrary and Capricious ,
Broker-Dealer ,
Declaratory Relief ,
Dodd-Frank ,
Final Rules ,
Form CRS ,
Injunctive Relief ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Management ,
Investors ,
Regulation Best Interest ,
Regulation BI ,
Retail Investors ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Standard of Conduct ,
Statutory Authority