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A&B Healthcare Week in Review, November 2015

I. REGULATIONS, NOTICES, & GUIDANCE - On November 21, 2015, the Centers for Medicare and Medicaid Services (CMS) released a proposed rule entitled “Patient Protection and Affordable Care Act; HHS Notice of Benefit and...more

Washington Healthcare Update

This Week: Congress tries to put together a tax extender package, which may provide an opportunity for some Affordable Care Act changes... HHS releases final rule on bundled payment for Joint Replacement Comprehensive Care...more

Data Security Breaches: Are you covered?

Data security breaches can have a significant impact a company’s bottom line. While larger corporations may be able to sustain the financial hit, small to mid-size corporations can be significantly impacted from the financial...more

NYDFS Letter: “Potential” Cybersecurity Regulations for Insurers

On November 9, 2015, the New York Department of Financial Services (NYDFS) issued a letter that describes what insurers can expect from the Department’s ongoing assessment of cybersecurity measures. The letter parallels...more

Securities Litigation and Enforcement Newsletter

In this our second edition of Fenwick’s Securities Litigation and Enforcement Newsletter, we continue to provide you with short insights about timely securities litigation and enforcement developments. This edition’s topics...more

Social Engineering Losses—Embarrassing Scam or Insured Loss?

The term Social Engineering keeps cropping up recently in the new world of cybersecurity—to what does this term refer? To a scam as old as the hills. You know the con: an innocuous person asks you to accept a cashier’s...more

Illinois Insurance Department Proposes Amendment to Cumbersome Records Retention and Destruction Requirements

The Illinois Department of Insurance (“ IL DOI”) has proposed an amendment to Illinois’ insurer record retention requirements, which would significantly reduce reporting, book-keeping and retention obligations. The current...more

NAIC Cybersecurity Bill of Rights: The Awkward New Guest at the Data Breach Law Party

On October 14, 2015, the NAIC’s Cybersecurity (EX) Task Force adopted a Cybersecurity Bill of Rights, an aspirational, well-intended document outlining the rights insurance consumers should (or could? or might? this point...more

Coverage for Business Interruption in Cyber Occurrences

Among the most critical cyber risks facing policyholders is the risk of business interruption in the event of a network breach or other cyber event. In our experience, the costs related to business interruption potentially...more

The Elephant in the Room – Catastrophic Property Damage from a Cyber Attack

This past October was the country’s first National Cyber Security Awareness Month, and that makes it an appropriate time to touch on a very troubling first-party exposure. Every day brings news of massive cyber attacks on...more

Cybersecurity and Data Privacy: Potential New Cybersecurity Regulations for Financial Institutions and Insurance Companies (11/15)

On the heels of recent high profile cyber-attacks against financial institutions and insurance companies, the New York State Department of Financial Services released a letter on November 9, 2015 that outlines proposed...more

New York Department of Financial Services Previews Upcoming Cybersecurity Regulations for Banks and Insurers

Anthony Albanese, the head of the New York Department of Financial Services, issued a letter to more than 20 federal and state regulators outlining proposed cybersecurity regulations for banks and insurance companies...more

[Event] Yes, Virginia, You Can Use Drones in Your Business! - Dec. 1st (Virginia Beach, VA) & Dec. 4th (Richmond &...

Companies from a wide spectrum of industries have obtained a Section 333 Exemption from the Federal Aviation Administration (FAA) that permits them to fly Unmanned Aircraft Systems (UAS), commonly known as “drones,” to...more

Companies, Through Best Practices, Can Help Keep Cyber Insurance Prices Reasonable

In speaking to a cybersecurity conference in 2012, then FBI Director Robert Mueller told attendees that there are only two types of companies: those that have been hacked and those that will be. Sadly, with each passing day,...more

Autonomous Vehicles (Part 2) - The Capabilities and Liabilities of Self-Driving Cars

On November 6, 2015, Toyota announced that it plans to invest $1 billion in a Silicon Valley research center for artificial intelligence. On November 10, Volkswagen said it had hired away from Apple its lead expert on...more

Mind The Gaps: Path To Privacy And Cyber Related Insurance Coverage Remains Uncertain

As lawsuits against companies for breach of privacy-related laws and cyber security failures continue to rise, the only thing that is certain is that it is uncertain just how much coverage is out there under commercial...more

NAIC cybersecurity task force adopts Cybersecurity Bill of Rights for insurance consumers

On October 14, the National Association of Insurance Commissioners (NAIC) Cybersecurity (EX) Task Force released an updated draft of its Cybersecurity Bill of Rights. The bill, which updates a prior draft published for...more

NAIC Cybersecurity Task Force Adopts Cybersecurity Bill of Rights

On October 14, 2015, the National Association of Insurance Commissioners’ (NAIC) Cybersecurity Task Force adopted the Cybersecurity Bill of Rights, a document meant to inform consumers of the services they can expect from...more

Thoughts on Supreme Court Oral Argument in Spokeo, Inc. v. Robins

Yesterday, the Supreme Court heard oral argument in Spokeo, Inc. v. Robins, No. 13-1339 (SCOTUSBlog page). The question presented is “Whether Congress may confer Article III standing upon a plaintiff who suffers no concrete...more

NAIC Adopts Cybersecurity Bill of Rights

The National Association of Insurance Commissioners (“NAIC”) continued its efforts to advance cybersecurity in the insurance industry when it recently adopted the Cybersecurity Bill of Rights. The Cybersecurity Bill of Rights...more

OCR Audits to Begin in 2016

Beginning in 2016, the United States Department of Health and Human Services’ Office for Civil Rights (OCR) will conduct another round of audits to gauge compliance with privacy provisions in the Health Insurance Portability...more

Health Care Update - October 2015

Senate Working Group Pressing Forward on Telehealth - As Congress focuses on bigger picture policy decisions, including broad budget negotiations and raising the debt ceiling, there are some exciting developments on the...more

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...more

Does the Schrems Decision Open the Door to New Cyber Insurance Exclusions?

The shockwaves continue from the October 6, 2015 ruling of the Court of Justice of the European Union (CJEU), the European Union’s highest court, invalidating the U.S.-EU “Safe Harbor” data transfer regime in a controversy...more

What the Recent NAIC Financial Condition Examiners Handbook Changes Mean for Insurers

On September 21, 2015, the National Association of Insurance Commissioners (NAIC) IT Examination Working Group adopted amendments to the IT section of the Financial Condition Examiners Handbook (“the Handbook”). The changes...more

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