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Privacy Insurance

Read Privacy Law updates, news, and legal commentary from leading lawyers and law firms:

Vermont’s New Telemedicine Law Expands Insurance Coverage, Bans Recording

by Foley & Lardner LLP on

Vermont health care providers and patients can now enjoy a revamped, and significantly improved, telehealth commercial insurance coverage law. Vermont Governor Phil Scott signed S. 50 into law on June 7, 2017, expanding...more

NYDFS Makes Inquiry into Life Insurers’ Use of Algorithmic Underwriting

On June 29, 2017, the New York Department of Financial Services (NYDFS) issued an information request pursuant to Section 308 of the New York Insurance Law addressed to all life insurers and fraternal benefit societies...more

Hurricane Cyber? Insurers Confront Unpredictable Data Breach Costs

by Fox Rothschild LLP on

Venerable insurer Lloyd’s of London says a global cyber attack on a major provider of cloud services could carry costs of up to $53 billion, reports Data Breach Today. That’s a hefty price tag that explains the rising...more

NYDFS Updates FAQs to Clarify Cybersecurity Regulations

by Ballard Spahr LLP on

The New York Department of Financial Services (NYDFS) recently updated frequently asked questions (FAQs) about its cybersecurity regulations, 23 NYCRR 500, to address four new issues. NYDFS published its initial set of FAQs...more

Ransomware is taking the world by storm; does insurance respond?

On June 27, 2017, the world had its second major ransomware attack in two months, and experts are predicting more to come. The first, named WannaCry, began May 12, and quickly spread to over 400,000 machines, the vast...more

DFS Cyber Compliance Nightmare? Detailed survey results indicate compliance is far from reach

New York’s powerful Department of Financial Services (DFS) upended cybersecurity regulation with its new and sweeping “Cybersecurity Requirements for Financial Services Companies,” which took effect on March 1, 2017. But is...more

Five Questions for Investors in Insurtech

Decisions you make when founding and/or investing in an insurtech venture can dictate your regulatory obligations, tax liability, operational structure and, ultimately, profitability. Here are five seemingly simple...more

The Remedy for the New Cyber Threat Posing Major Coverage Problems: “Fake President” E-mails

by Nossaman LLP on

In the last few weeks, we have seen yet another widespread ransomware attack that hit nearly one hundred companies around the world. It reminded me of a recent request from a client, made just after news broke of the...more

A Developing Cybersecurity Standard: Anticipate, Mitigate and Remediate

The latest cyberattack across multiple countries shows that hackers do not discriminate by industry. It’s not just about targeting “data” such as credit card or insurance information. Rather, it is increasingly about stealing...more

The Art of (Cyber) War

by Blank Rome LLP on

Today’s political climate is rife with reminders about the importance of data privacy and cybersecurity. According to the World Economic Forum’s 2017 Global Risks Report, the greatest technological risks facing the world...more

Ransomware: Assessing & Crafting Coverage

by GB&A Insurance on

When it comes to cyber risk insurance, coverage for ransomware related claims is an important component. And with ransom attacks on the rise, it’s more important than ever. But organizations need to be careful not to develop...more

Cyber Insurance: Prevalent But By No Means Ubiquitous

A recent survey from the credit score company FICO has some interesting numbers on the prevalence of cyber insurance in the US. ..50% of US companies have no cyber insurance. ..74% of US healthcare companies have no cyber...more

Connected and Automated Cars: The Federal Government Addresses Cybersecurity and Data Privacy

Connected and automated vehicles are being built with components that enable them to not only access information, but also collect, store and transmit data for performance and safety purposes as well. Furthermore, these...more

Anthem Agrees to Pay Over $100 Million to Settle Data Breach Lawsuit: Cybersecurity Trends

by CloudNine on

One of the most notable data breaches in recent years was the one suffered by health insurer Anthem involving the personal information of nearly 80 million individuals. It looks like they are going to pay up big to make the...more

NYS Cyber Regulation Countdown: Continuous Monitoring

In our series of posts leading up to the August 28th deadline for the first phase of requirements under New York’s cybersecurity regulation, the Patterson Belknap team looks at issues that institutions face as they implement...more

DFS Cyber Compliance Nightmare? New survey reports less than half of financial firms will meet deadline

A new survey by the Ponemon Institute reports that less than half of the financial institutions covered by New York’s sweeping new cybersecurity regulation say they will “likely” meet next February’s compliance deadline. And...more

NAIC Insurance Summit 2017: Innovation and Disruption Are Top of Mind for State Regulators

by Mintz Levin on

From May 22-26 Mintz Levin participated in the annual NAIC Insurance Summit in Kansas City. A main theme of this year’s Summit was technology and innovation. The Summit was remarkable in that it served as a meeting grounds...more

NYS Cyber Regulation Countdown: “Risk Assessment” – Now or Later?

In our series of posts leading up to the August 28th deadline for the first phase of requirements under New York’s cybersecurity regulation, the Patterson Belknap team looks at issues that institutions face as they implement...more

Managing Cyber Risks: Tips for Purchasing Insurance That Works for Your Business – Part II

by Blank Rome LLP on

This article highlights several strategies for maximizing the value of a cyber insurance purchase. The first part of the article, which appeared in the May 2017 issue of Pratt’s Privacy & Cybersecurity Law Report, highlighted...more

WannaCry, Adylkuzz, and Cyber Breach: How to Maximize Insurance Coverage in the Event of Cyber Attack

by King & Spalding on

The worldwide hack that surfaced on May 12—known as “WannaCry”—wreaked havoc on hundreds of thousands of computers across the globe and is one of the biggest ransomware hacks the world has ever experienced. The U.K.’s...more

New York’s Cybersecurity Requirements for DFS Licensees: A New Item at the Top of the To-Do List

by Locke Lord LLP on

With the compliance date only a few months away, licensees of the New York Department of Financial Services (DFS) must start taking action immediately to comply with the coming cybersecurity requirements, which will be more...more

Privacy Perils: To Insure or Not to Insure – Options for Cyberliability Insurance

by Bass, Berry & Sims PLC on

The commercial cyberliability insurance market is well-established, with U.S. corporations now spending in excess of $1 billion annually on insurance premiums for coverage....more

Transportation Disrupted: AI in the Driver's Seat

Eversheds Sutherland Lawyers Share Insights on Data Privacy, Cybersecurity, Intellectual Property and other Challenges Raised by Autonomous and Connected Cars - On May 3, 2017, Eversheds Sutherland hosted Transportation...more

No More Tears: Insurance Coverage For The "WannaCry" Ransomware Attack

by Jones Day on

This month's WannaCry "ransomware" attack—the first truly global incident of its kind—is believed to have affected at least 300,000 computers in over 150 countries, claiming among its victims many large corporations and...more

Ninety Days and Counting: NY Cyber Regulation’s First Deadline

Faced with an approaching August 28th deadline, the more than 3,000 financial institutions that do business in New York should be knee-deep in implementing the first wave of requirements under the State’s sweeping and...more

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Cybersecurity

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