Consumer Protection Insurance

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CFPB Issues Arbitration Study – Possible Impact On Reinsurance Unclear

The Consumer Financial Protection Bureau has issued a study that is critical of arbitration in the context of consumer claims, contenting that arbitration “restricts” the rights and remedies of consumers by limiting or...more

Premera Blue Cross Targeted by Hackers – 11 Million Individuals Compromised

Premera Blue Cross (“Premera”) announced this week that it has been the target of a sophisticated cybersecurity attack in which the information of approximately 11 million individuals has been compromised. This announcement...more

Lessons Learned from Recent Data Security Breaches, Part Two

Because controlling access is essential to protecting privacy of PHI under HIPAA, the HITECH Security Rule essentially requires that a covered entity control physical and electronic access to the data system by implementing...more

State Legislatures React To Latest Health Data Breaches By Updating State Data Breach Notification Laws And Encryption...

Recent, large-scale breaches of health information have served to highlight the fact that federal agencies have only rarely assessed penalties against companies as a result of these breaches, while many states do not have...more

Blog: Another Large Scale Data Breach Announced by Premera Blue Cross

Premera Blue Cross revealed Tuesday it was hit by a sophisticated cyber attack potentially exposing personal data for approximately 11 million of its members including members, employees and others with whom it does business,...more

State Data Breach Notification Law Updates

State legislatures are not waiting for Congressional action on a national data breach notification standard. Montana — Montana has amended its 10-year old breach notification law (see Mintz Matrix) to expand the...more

Maximizing Insurance Coverage for CFPB Investigations and Enforcement Actions

Seven years removed from the 2008 financial crisis, an increasing number of financial institutions are now finding themselves in the crosshairs of the Consumer Financial Protection Bureau (“CFPB”), a new federal agency...more

Competition and Regulation Update: Health Sector Under ACCC Spotlight In 2015

ACCC ENFORCEMENT PRIORITIES - The Australian Competition and Consumer Commission (ACCC) has released its enforcement priorities for 2015, with the Chairman of the ACCC giving a speech on the topic last week. Each year,...more

Boom or Bust? Cyber Security and Data Breach Loss in Latin America

Every day in the news we are assaulted by reports of cyber security and data breaches of industry giants, major retailers and financial conglomerates that compromise the privacy and security of millions. In the wake of such...more

Cybersecurity is Key Initiative for National Association of Insurance Commissioners

Even your grandmother is talking about cybersecurity, so you know it’s got to be important. In the world of insurance, the wheels are in motion at the NAIC – the National Association of Insurance Commissioners – to get a...more

A Primer on Insurance Coverage Issues under the Telephone Consumer Protection Act

In the past several years, plaintiffs’ attorneys around the country have exploited a once-unknown 1991 law, the Telephone Consumer Protection Act (“TCPA”), to obtain headline-grabbing, multimillion-dollar judgments and...more

Cyber Risk as a Regulatory Issue: Tales of Encryption

Spurred by the prescient reporting found in this space (and, just maybe, by the Anthem data breach, which occurred a week later), insurance regulators have recently engaged in a flurry of regulatory activity relating to cyber...more

Cybersecurity Insurance – One Size Does Not Fit All

With headlines of data breach incidents becoming a weekly, if not daily occurrence, it’s not surprising that many companies are considering whether they should purchase cybersecurity insurance, if they haven’t already. The...more

With Self-Driving Vehicles on the Forefront, Companies Should Consider Cyber Insurance Coverage Options

As we move closer to a world of self-driving cars, it is important for companies involved in their manufacture to consider cyber insurance policies to provide coverage for the risks brought by this new technology....more

Trends To Watch In Cyber Liability and Reputational Insurance

With major data breaches again making news, it is important for corporate policyholders to keep abreast of insurance developments in this emerging and fast-moving area. In this update, we provide some thoughts on cyber...more

Locke Lord QuickStudy: Attention, Health Insurers: Unique Encryption Requirements in NJ

Setting a new standard for encryption, New Jersey has enacted a new law (P.L. 2014, c. 88, codified at N.J. Stat. Ann. §§ 56:8-196 - 56:8-198) effective August 1, 2015, requiring health insurance carriers authorized to issue...more

Cyber Attackers Reach Anthem, Health Care Providers Seen As Vulnerable

Anthem, one of the nation’s largest health insurers, announced last Wednesday that it had been attacked by cyber hackers and that personal information for as many as 80 million individuals had been compromised....more

New York’s Insurance Regulator Announces Results of Cybersecurity Survey and Previews New Regulatory Initiatives

On February 9, the New York Department of Financial Services (DFS) released a Report on Cyber Security in the Insurance Sector (Report), summarizing the results of a survey completed by 43 insurers about their cybersecurity...more

New York Department of Financial Services Releases Report on Cybersecurity in the Insurance Industry; announces new targeted...

On February 8, 2015, the New York Department of Financial Services released its Report on Cyber Security in the Insurance Sector, and announced that it will begin conducting targeted cybersecurity assessments of New...more

CalPERS Members Impacted by Anthem Blue Cross Cyber-Attack

Anthem Blue Cross, one of the nation’s largest health insurance providers, announced last week that it was the target of a cyber-attack in which attackers gained unauthorized access to its IT systems and records....more

C-Suite – Changing Tack on the Sea of Data Breach?

The country awoke to what seems to be a common occurrence now: another corporation struck by a massive data breach. This time it was Anthem, the country’s second largest health insurer, in a breach initially estimated to...more

Title Insurance Regulatory and Legislative Update - February 2015

FEDERAL - New CFPB Compliance Bulletin Impacts Service Providers: The Consumer Finance Protection Bureau (“CFPB”) recently issued Compliance Bulletin 2015-01, which reminds persons subject to the regulatory authority...more

Millions Affected by Hackers’ Attack on Health Insurer Anthem, Inc.

“Anthem was the target of a very sophisticated external cyber attack,” announced Joseph Swedish, Anthem’s President and CEO. Anthem, Inc., formerly known as WellPoint, Inc., is one of the largest health insurance companies in...more

News from the Health Law Gurus™

Millions Affected by Hackers’ Attack on Health Insurer Anthem, Inc. – “Anthem was the target of a very sophisticated external cyber attack,” announced Joseph Swedish, Anthem’s President and CEO. Anthem, Inc., formerly...more

Anthem, Inc. Breach

Anthem, Inc., the country’s second biggest health insurer, announced on Wednesday, February 4, 2015, that it suffered a data breach containing the personal information for about 80 million customers and employees due to an...more

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