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Cybersecurity › Third-Party Service Provider › Insurance Industry

Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk... more +
Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now.   less -
Ogletree, Deakins, Nash, Smoak & Stewart,...

The EU’s Digital Operational Resilience Act Comes Into Effect

Ogletree, Deakins, Nash, Smoak & Stewart,... on

The European Union’s Digital Operational Resilience Act (DORA) came into effect on January 17, 2025. DORA aims to harmonise rules concerning the provision of information and communication technology (ICT) services to...more

Husch Blackwell LLP

New York’s DFS Publishes A Cyber Insurance Risk Framework

Husch Blackwell LLP on

Keypoint: New York’s Division of Financial Services (DFS) now requires Property and Casualty Insurers writing cyber insurance to comply with the Division’s Cyber Insurance Risk Framework to manage their risk. In her...more

Hinshaw & Culbertson - Consumer Crossroads

Another Cybersecurity Wake Up Call: Connecticut Insurance Department Issues Guidance on Cyber Law Set to go Into Effect

Hinshaw & Culbertson - Consumer Crossroads on

Covered entities received two cybersecurity wake up calls from insurance regulators this month. As we have reported, the New York State Department of Financial Services (DFS) issued its long-awaited first cyber enforcement...more

King & Spalding

Energy Newsletter - April 2020

King & Spalding on

Developing Contingency Plans: The NYDFS Mandate on Licensed Virtual Currency Businesses - The events surrounding COVID-19 have increased the use of fintech products, both out of necessity and convenience. Shelter-in-place...more

Mintz - Privacy & Cybersecurity Viewpoints

New York Dept of Financial Services (NYDFS) Extends Cybersecurity Compliance Deadline

Mintz - Privacy & Cybersecurity Viewpoints on

The NYDFS has announced that it has extended the deadline for compliance with certain cybersecurity requirements due to the coronavirus emergency. The announcement from the Superintendent of Financial Services of the State...more

Nutter McClennen & Fish LLP

Nutter Bank Report: January 2020

Nutter McClennen & Fish LLP on

The FDIC and OCC have issued new guidance for banks on heightened cybersecurity risks facing the financial services industry because of increased geopolitical tensions and threats of aggression. The guidance published on...more

Sheppard Mullin Richter & Hampton LLP

Happy First Day of Spring! Ohio Insurance Law Effective Today

Sheppard Mullin Richter & Hampton LLP on

Ohio recently followed South Carolina as the second state to adopt cybersecurity legislation modeled after the NAIC’s Insurance Data Security Model Law. The Ohio law, Senate Bill 273, applies to insurers authorized to do...more

BakerHostetler

Beware the Ides of March – Is Your NYDFS Cybersecurity Compliance in Order?

BakerHostetler on

March is now here and with it the Cybersecurity Regulation of the New York Department of Financial Services (NYDFS) is now in full force and effect, including requirements relating to Third Party Service Providers (e.g.,...more

Sheppard Mullin Richter & Hampton LLP

New York Department of Financial Services Releases Letter Regarding Third Party Data Sources

Sheppard Mullin Richter & Hampton LLP on

In a recent letter, the New York Department of Financial Services provided guidance for insurers who use third party data to help with their underwriting decisions. The letter was drafted in response to reports that insurers...more

Robinson+Cole Data Privacy + Security Insider

New York Department of Financial Services Cybersecurity Regulation 18-month Compliance Deadline Arrives

Robinson+Cole Data Privacy + Security Insider on

On September 4, 2018, the third stage of compliance deadlines under the New York Department of Financial Services’ (DFS) expansive cybersecurity regulation went into effect....more

White and Williams LLP

South Carolina’s New Insurance Data Security Act: Pebbles Before a Landslide?

White and Williams LLP on

The ramp-up of cybersecurity regulation, albeit in a patchwork fashion through state-level legislation, has begun. On May 18, 2018, South Carolina enacted the Insurance Data Security Act (Act), becoming the first state to...more

Ballard Spahr LLP

South Carolina Enacts First Insurance Data Security Act

Ballard Spahr LLP on

South Carolina has become the first state to enact a version of the Insurance Data Security Model Law, which was drafted by the National Association of Insurance Commissioners (NAIC) in 2017. Governor Henry McMaster signed...more

Mintz - Privacy & Cybersecurity Viewpoints

Insurance Commissions Approve Data Security Model Law

Mintz - Privacy & Cybersecurity Viewpoints on

The National Association of Insurance Commissioners (NAIC) has approved its draft of the Insurance Data Security Model Law (Model Law) via a meeting of its Executive and Plenary Committees. This important development follows...more

Carlton Fields

NAIC Cybersecurity Working Group Votes to Approve Insurance Data Security Model Law

Carlton Fields on

The National Association of Insurance Commissioners (NAIC) Cybersecurity (EX) Working Group (Cybersecurity WG) approved Version 6 (Finalized) of its Insurance Data Security Model Law (Model) on August 7 at the NAIC Summer...more

Hogan Lovells

A Guide to NYDFS Cybersecurity Regulations’ August 28 Implementation Deadline

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As a follow-up to our previous reports (December 30, 2016 Alert; February 24, 2017 Alert) regarding the cybersecurity regulations issued by the New York State Department of Financial Services (NYDFS), we would like to remind...more

Patterson Belknap Webb & Tyler LLP

NAIC Model Cyber Law: Yet Another Regulatory Measure

Patterson Belknap Webb & Tyler LLP on

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

Fisher Phillips

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

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

Robinson+Cole Data Privacy + Security Insider

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

Robinson+Cole Data Privacy + Security Insider on

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

Hogan Lovells

The “Final Final” is Here: NYDFS Cybersecurity Regulations

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

Carlton Fields

NY DFS Cybersecurity Regulations Take Effect March 1, 2017

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

Patterson Belknap Webb & Tyler LLP

DFS Final Cyber Regulation: Accountability at the Top

Patterson Belknap Webb & Tyler LLP on

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

Sheppard Mullin Richter & Hampton LLP

New York State Department of Financial Services Cybersecurity Regulation Poised to Reshape Existing Regulatory Landscape

Sheppard Mullin Richter & Hampton LLP on

In late December, New York State’s Department of Financial Services (“DFS”) released its revised proposed cybersecurity regulation (the “DFS Rule”). While the revisions pare back some of the DFS Rule’s original requirements...more

Carlton Fields

NY DFS Proposed Cybersecurity Regulations Revised and Implementation Delayed

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

Cadwalader, Wickersham & Taft LLP

New York State Revises “First-In-Nation” Cybersecurity Rules

Cadwalader, Wickersham & Taft LLP on

The New York Department of Financial Services (“DFS”) recently issued a revised version of the cybersecurity rules that it first announced in the fall of last year. The rules apply to a wide range of insurance, banking, and...more

Herbert Smith Freehills Kramer

New York State Department of Financial Services Modifies Proposed Cybersecurity Regulations and Pushes Implementation Date Back to...

Herbert Smith Freehills Kramer on

On Dec. 28, 2016, the New York State Department of Financial Services (NYDFS) published a revised version of its “Cybersecurity Requirements for Financial Services Companies” (the “Regulations”). The revised Regulations...more

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