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Data Privacy Insurance Industry Data Security

Woodruff Sawyer

The Voluntary Parting Exclusion: What You Need to Know

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The US Internet Crime Complaint Center (IC3) received more than 880,000 cybercrime complaints in 2023. Overall financial losses from cybercrime last year reached $12.5 billion, a record-setting year-over-year increase of...more

Faegre Drinker Biddle & Reath LLP

NAIC’s Draft Revisions to Protect Consumer Privacy in Model Law 672

The National Association of Insurance Commissioners’ (NAIC) Privacy Protections (H) Working Group (the “Working Group”) has continued its charge to draft a new or revised model law aimed at standardizing privacy protections...more

Locke Lord LLP

NAIC Privacy Protections Working Group Takes First Step on Its New Path ‎Forward

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The Privacy Protections (H) Working Group of the National Association of Insurance Commissioners (“NAIC”) met on Wednesday June 12, 2024, to consider which proposed path forward to pursue as it considers a new NAIC privacy...more

Locke Lord LLP

NAIC Privacy Protections Working Group’s Path Forward

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On May 15, 2024, the Privacy Protections (H) Working Group of the National Association of Insurance Commissioners (“NAIC”) held its first meeting since the Spring National Meeting in March. The working group seeks public...more

Carlton Fields

Racing Ahead: Privacy, Cybersecurity, and AI Heats for the Life Insurance Industry

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Drivers, start your engines. It has been months of high speed for privacy, cybersecurity, and artificial intelligence....more

McGuireWoods LLP

Navigating Cybersecurity and Data Privacy Regulations in the Insurance Industry

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For over 100 years, the National Association of Insurance Commissioners (NAIC) has been developing model legislation to encourage uniformity among states for the regulation of insurance products. The NAIC model laws and...more

Bond Schoeneck & King PLLC

The Impact of Merck’s NotPetya Policy Claims and a Reported Settlement

By definition, insurance policies represent an exercise in planning for (and hedging against) catastrophe. Cyber insurance for the healthcare industry is no exception. But any hedge is only as good as it’s reliable. Many...more

Woodruff Sawyer

Looking Ahead: Cyber Liability Insurance Concerns in 2024

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Followers of the cyber insurance market over the past two years may be suffering from whiplash—that’s how dramatically the market shifted from 2022 to 2023. A perfect storm of good trends and facts combined to create a soft...more

Faegre Drinker Biddle & Reath LLP

Insurance Industry: Mid-2023 Privacy and Data Security Updates

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

Seward & Kissel LLP

"An Ounce of Prevention"...How to Reduce the Risk of Litigation and Enforcement Proceedings

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To paraphrase what Ben Franklin may have been alluding to nearly 300 years ago in his famous quote, often the best approach when it comes to reducing the risk of litigation and government enforcement proceedings is to take...more

Woodruff Sawyer

Property and Casualty Risks Faced by Data and Analytics Service Providers

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With the explosive growth of data over the last decade, a new industry has emerged: data and analytics services. In an article published in December 2022, Acumen Research and Consulting estimated the global size of the...more

Eversheds Sutherland (US) LLP

NAIC Report - 2023 Spring National Meeting

The National Association of Insurance Commissioners (NAIC) held its 2023 Spring National Meeting March 21-25 in Louisville, Kentucky. The agenda for this National Meeting was limited, with a number of NAIC working groups...more

Woodruff Sawyer

Data Breaches Often Start with Insecure Authentication

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In today’s modern and often hybrid workplace, there is no magic bullet for preventing data breaches—they can come from a variety of angles and thus require a vigilant, multifaceted approach. Implementing a wide-reaching...more

Carlton Fields

A New Draft Privacy Model Blooms From the NAIC Privacy Working Group

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On February 1, the NAIC’s Privacy Working Group’s new privacy model germinated. After months of development, the exposure draft, titled “Insurance Consumer Privacy Protection Model Law #674” (Proposed Model), has finally...more

Eversheds Sutherland (US) LLP

NAIC Report - 2022 Summer National Meeting

Innovation, Cybersecurity, and Technology (H) Committee Adopts Request for Modernized Privacy Protections Model Law; Receives Working Group Reports - The Innovation, Cybersecurity, and Technology (H) Committee met on...more

J.S. Held

How to Avoid the Most Common Causes of Cybersecurity Incidents

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Cybercrime is at an all-time high, with just the cybercrime insurance industry alone expecting to grow from $8 billion globally in 2020 to $20 billion by 2025.1 Although cyber liability insurance policies now exist to help...more

Lowenstein Sandler LLP

How Patching log4J Can Mitigate Regulatory and Insurance Issues

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A major software vulnerability (known as Log4j or Logshell) continues to have a major impact on many industries, causing insurance carriers and regulators to take notice. In the latest episode of Lowenstein Sandler’s...more

Carlton Fields

When Congress Freezes Up, the NAIC’s Privacy Protections Working Group Lights a Fire

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On November 18, calling frozen federal legislative efforts “an opportunity” for state insurance regulators to “update state privacy protections … and potentially forestall or mitigate the impacts of any preemptive federal...more

Woodruff Sawyer

[Virtual Event] Cyber Insurance Trends – Looking Ahead to 2022 - January 25th, 10:00 am - 11:00 am PDT

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Cyber liability insurance is becoming more ubiquitous, more unpredictable, and in some cases more confusing than ever, which makes understanding your risk even more critical in 2022. Join Woodruff Sawyer experts Dan Burke,...more

Troutman Pepper

Wisconsin Enacts Insurance Data Security Law Requiring Notification of Cybersecurity Incidents to Insurance Commissioner Within...

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Entities that collect Wisconsin residents’ personal information and are licensed, registered, or authorized (licensee) with the Office of the Commissioner of Insurance (commissioner) will have to abide by a new data security...more

Faegre Drinker Biddle & Reath LLP

NAIC Insurance Data Security Model Law (MDL-668) Update

The NAIC Data Security Model Law (Model 668) continues its journey through the various state legislatures. Whether all 50 states meet the U.S. Treasury-recommended 2022 deadline for adoption of uniform data security...more

Farella Braun + Martel LLP

[Webinar] Cyber Insurance for the Cannabis Industry - June 1st, 10:00 am - 11:00 am PT

Cannabis businesses have cyber security and privacy risks. While the risks are varied, many arise from the businesses’ holding of highly sensitive consumer information or confidential data about business partners. Cannabis...more

Akin Gump Strauss Hauer & Feld LLP

Two More States Adopt NAIC Model Data Security Law

The National Association of Insurance Commissioner (NAIC)’s model data security law (“Model Law”) was recently adopted by Maine and North Dakota. This addition brings the total number to states that have joined the NAIC...more

Hinshaw & Culbertson LLP

[Webinar] Webinar Series: Insurance Insights – What Insurers Need to Know in 2021 - Emerging Issues in Coverage for Cyber and...

Join us for Hinshaw's Webinar Series: Insurance Insights – What Insurers Need to Know in 2021. This series will feature insurance thought leaders from Hinshaw and RPC, presenting on the most pressing insurance claims topics...more

Goodwin

Fintech 2020: A Global Survey on the State of Financial Technology

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Letter from Our Co-Chairs - As the digital transformation of financial markets accelerates at breakneck speeds, fintech presents significant opportunities and challenges for both investors and innovators around the world. ...more

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