News & Analysis as of

U.S. Treasury Cyber Insurance

Eversheds Sutherland (US) LLP

US Treasury Department announces initiatives for further study of a federal insurance backstop for catastrophic cyber events

On November 17, 2023, the United States Treasury Department’s Federal Insurance Office (FIO) and the Volatility and Risk Institute at the NYU Stern School of Business jointly hosted a conference on Catastrophic Cyber Risk and...more

Morgan Lewis - Tech & Sourcing

Flood Insurance for Cyberattacks? A Federal Proposal

The US Treasury Department has issued a request for public comment on a federal cyberinsurance program that would aim to cover the costs associated with severe cyberattacks. The Federal Insurance Office (FIO) and the US...more

Flaster Greenberg PC

Policyholder Best Practices As Cyberattacks Escalate

Flaster Greenberg PC on

Cyberattacks are exploding. The coronavirus pandemic has further exposed cyber vulnerabilities due to remote work and the increasing use of underprotected devices. Ransomware attacks are increasingly becoming the cyberattack...more

White and Williams LLP

NYDFS Announces Cyber Insurance Risk Framework to Address Increasing Cyber Risk

Even if your company does not report to the New York Department of Financial Services (DFS), all insurers should heed warning to prepare for future cyber risk regulations and requirements. Cyber risk is real and has the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update - February 2020

In this month's edition, we examine the California attorney general's proposed modified regulations under the CCPA, the Treasury Department's new CFIUS regulations, and the SEC Office of Compliance Inspections and...more

Faegre Drinker Biddle & Reath LLP

International Capital Standard, Holistic Framework, Cyber Insurance Highlight NAIC International Insurance Forum in D.C

On May 13-14, 2019, the National Association of Insurance Commissioners (NAIC) hosted its annual International Insurance Forum in Washington, D.C. Highlights of the event included remarks from U.S. Department of the Treasury...more

Nutter McClennen & Fish LLP

Nutter Bank Report, April 2018

Treasury Report Recommends Changes to Community Reinvestment Act Rules - The U.S. Department of the Treasury has released a report recommending changes to the federal banking agencies’ rules that implement the Community...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Privacy & Cybersecurity Update - December 2016"

In this month's edition of our Privacy & Cybersecurity Update, we examine modifications to New York state's proposed cybersecurity regulations for financial institutions, a 5th Circuit ruling that a phishing scam is not...more

Eversheds Sutherland (US) LLP

NAIC Cybersecurity Forum Focuses on Escalating Threats and Best Remediation Practices

On September 10, the National Association of Insurance Commissioners (NAIC) co-sponsored a cybersecurity forum at the Center for Strategic and International Studies in Washington, DC. Featuring an impressive line-up of senior...more

Manatt, Phelps & Phillips, LLP

Treasury Official Advocates for Cyber Insurance

Why it matters - Reflecting the continued regulatory focus on cyber risks, Deputy Secretary of the Treasury Sarah Raskin has some advice for banks: buy cyber insurance. Speaking at the Texas Bankers’ Association...more

McGuireWoods LLP

Treasury: Ten Questions for Bank Executives and Boards of Directors

McGuireWoods LLP on

On December 3, 2014, Sarah Raskin, Deputy Secretary of the U.S. Department of Treasury (Treasury), gave a speech before the Texas Banker’s Association Executive Leadership Cybersecurity Conference. Deputy Secretary Raskin’s...more

Nossaman LLP

The Treasury Recommends Cyberinsurance For Banks

Nossaman LLP on

If you think you are being overly paranoid about the recent cyber attacks on Sony, JP Morgan, and Target, think again. You aren’t the only one that has been paying attention – hackers are also front-and-center on the minds...more

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