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UK: FCA 2017/2018 Business Plan - Sector priorities for general insurance

by Hogan Lovells on

In its recently published 2017/2018 Business Plan the FCA outlines its priorities for the general insurance sector over the coming year and beyond....more

Federal Court: Computer Fraud Provision Does Not Cover Fraudulent Debit Card Transactions Conducted Over the Telephone

by McGuireWoods LLP on

Last month, the Northern District of Georgia issued a strongly pro-insurer decision holding that a policy insuring computer fraud did not provide coverage for $11.4 million in fraudulent debit card redemptions made over the...more

New York’s Cyber Regulation: A National Blueprint?

New York’s top banking regulator would like the state’s new sweeping – and highly detailed – cybersecurity regulation to serve as a national model for insurance companies in safeguarding their institutions from cybercrime....more

New York Sets Its Sights on Cybersecurity Weaknesses at Financial Institutions

The New York State Department of Financial Services’ (NYDFS) cybersecurity regulations went into effect March 1, 2017, and the first of the staggered implementation deadlines is quickly approaching on August 28, 2017. Touted...more

NAIC Model Cyber Law: Yet Another Regulatory Measure

The National Association of Insurance Commissioner’s (NAIC) model cybersecurity law will take center stage later this week at the group’s annual meeting in Denver. In its third draft, the Insurance Data Security Model...more

DFS Chief to Address State Insurance Commissioners on NYS Cyber Regulation

New York State Department of Financial Services Superintendent Maria T. Vullo is scheduled to discuss the state’s new “first in the nation” cybersecurity regulation later this week at the National Association of Insurance...more

Rosen Hotels Fined After Data Breach and Facing Federal Lawsuit

This week Rosen Millennium Technology Group, the sister company to Rosen Hotels & Resorts, was sued by its insurance company, St. Paul Fire & Marine, which is denying coverage for a data breach that was discovered in 2016. ...more

What DFS Cybersecurity Regulation Portends for the Compliance Practitioner

by Thomas Fox on

The state of New York’s Department of Financial Services (DFS) issued the first state-level regulations on cybersecurity for financial institutions with its Cybersecurity Requirements for Financial Services Companies release,...more

What to Expect from New York’s New Cybersecurity Regulations

The New York State Department of Financial Services’ (NYDFS) cybersecurity regulations went into effect March 1, 2017. Touted by the NYDFS as the “first in the nation” comprehensive cybersecurity regulation, the new rules...more

New York Department of Financial Services Cybersecurity Regulation Takes Effect

by Balch & Bingham LLP on

Earlier this month, the new cybersecurity regulation from the New York Department of Financial Services (“DFS“) took effect. The new regulation requires banks, insurance companies and other financial services institutions...more

New York Regulations Heighten Need for Due Diligence and Cyber Insurance Coverage

by Robins Kaplan LLP on

Cybersecurity rules from the New York Department of Financial Services (DFS) went into effect on March 1 and now banks and insurers are faced with an increasing level of potential legal exposure for data breaches. This...more

NYDFS Cybersecurity Regulations Compliance Guide: Applicability, Exemptions and Penalties

by White & Case LLP on

As discussed in our March 1, 2017 update,1 the New York Department of Financial Services ("NYDFS") issued final regulations that require New York banks and insurance companies, as well as other financial services companies...more

Blockchain - a revolution for the insurance sector with some risks

by DLA Piper on

Blockchain is “the most important invention since the Internet itself” according to Marc Andreessen. And there is no doubt that there are huge potentials for the insurance sector to exploit such technology, but as any new...more

New Cybersecurity Requirements for New York Financial Companies

by Snell & Wilmer on

The New York Department of Financial Services has new cybersecurity regulations “designed to promote the protection of customer information as well as the information technology systems of regulated entities [financial...more

"Privacy & Cybersecurity Update - February 2017"

In this edition of our Privacy & Cybersecurity Update, we look at a series of recent court rulings regarding standing in privacy cases, most of which suggest plaintiffs will continue to have a difficult time establishing...more

New York Department of Financial Services Cybersecurity Regulations Take Effect | Publications

by McCarter & English, LLP on

PDF Version New cybersecurity-related regulations issued by New York state regulators took effect March 1, 2017. The rules, which directly impact all entities regulated by the New York Department of Financial Services (such...more

New York's Far-Reaching Cybersecurity Law Takes Effect March 1 - Are You Ready?

by Fisher Phillips on

New York’s Department of Financial Services Cybersecurity regulation became effective March 1. According to the press release issued with the regulation, the regulation is intended to require banks, insurance companies and...more

New York Department of Financial Services Finalizes Cybersecurity Proposal

On February 16, 2017, the New York Department of Financial Services (the “DFS”) released a final version (the “Final Regulation”) of its proposed regulation, previously released in an earlier revised form on December 28,...more

New York State Releases Final “First-In-Nation” Cybersecurity Rules

The New York Department of Financial Services (“DFS”) recently released the much-anticipated final version of its “first-in-nation” cybersecurity rules that it first announced in the fall of last year. The rules require a...more

NYS Department of Financial Services Cybersecurity Regulation Goes Live: Now What?

by White & Case LLP on

March 1, 2017 marks the effective date of the New York State Department of Financial Services (NYDFS) Cybersecurity Requirements for Financial Services Companies (the Rules). We previously reported on these emerging standards...more

New York Financial Services Cybersecurity Regulations Go Into Effect on March 1st

We have previously reported about the upcoming New York Financial Services Cybersecurity Regulations. On February 16, 2017, Governor Andrew M. Cuomo announced that “the first-in the-nation cybersecurity regulation to protect...more

The “Final Final” is Here: NYDFS Cybersecurity Regulations

by Hogan Lovells on

As Hogan Lovells previously reported, the New York State Department of Financial Services (NYDFS) has launched a significant initiative to impose detailed cybersecurity requirements on covered financial institutions. On...more

NY DFS Cybersecurity Regulations Take Effect March 1, 2017

by Carlton Fields on

We previously reported on the New York Department of Financial Services’ proposed cybersecurity regulations. During the public comment period, the DFS received over 150 comments. In response, the DFS announced on December 28,...more

The New York Department of Financial Services Issues Its Final Cybersecurity Regulation

On February 16, 2017, the New York Department of Financial Services (“DFS”) issued the final version of its cybersecurity regulation. The regulation, which has seen several iterations since it was first proposed in September...more

DFS Final Cyber Regulation: Accountability at the Top

Over the last few months, the New York Department of Financial Services (“DFS”) cybersecurity regulation has undergone multiple revisions. But late last week, DFS issued its final regulation, which will go into effect on...more

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Cybersecurity

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