Since July 1, 2019, Delaware, New Hampshire and Connecticut have enacted laws imposing new cybersecurity requirements on insurers. These laws follow similar statutes already operating in at least six other states: Alabama,...more
9/16/2019
/ Cyber Insurance ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Data Protection ,
Data Security ,
Insurance Industry ,
Insurance Regulations ,
NAIC ,
Security Risk Assessments ,
State Data Breach Notification Statutes ,
State Insurance Administrations ,
The Model Law
Nearly 30 years ago the Fair Isaac Corporation (“FICO”) first introduced its metric for measuring creditworthiness. Since then, the FICO Score has become a default metric used by countless market participants to facilitate...more
2/27/2018
/ Chamber of Commerce ,
Cloud Service Providers (CSPs) ,
Cyber Attacks ,
Cyber Insurance ,
Cybersecurity ,
Data Breach ,
Data Protection ,
Data Security ,
Insurance Industry ,
Internet ,
Rating Agencies ,
Security Risk Assessments ,
Small Business ,
Underwriting ,
Vendors
• NAIC recently adopted an Insurance Data Security Model Law that follows the risk assessment-based approach of the New York DFS Cybersecurity Regulation. This signals the growing influence of the New York Regulation,...more
11/1/2017
/ Cyber Insurance ,
Cybersecurity ,
Data Security ,
Department of Financial Services ,
Health Insurance Portability and Accountability Act (HIPAA) ,
National Association of Insurance Commissioners ,
Non-Public Information ,
Notification Requirements ,
Personally Identifiable Information ,
Reinsurance ,
Risk Assessment ,
The Model Law ,
Third-Party Service Provider
• Recent shifts in insurance regulation are driven by consumer demand.
• Traps for the unwary mean that insurtech startups should engage with regulators early and often.
• Brokers need to know how to navigate the...more