By

Charlene McHugh

07 March 2018

Congressional Movement on Cybersecurity in a Bill to Reauthorize the Homeland Security Act of 2002

On March 7, 2018, the U.S. Senate’s Homeland Security and Governmental Affairs Committee approved a new version of a bill (SB 2825) reauthorizing the Homeland Security Act of 2002 and including key cybersecurity provisions affecting the Department of Homeland Security (DHS).  The bill is considered a critical piece … Read More

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07 February 2018

NYDFS Cybersecurity Regulations: First Annual Compliance Certification Due February 15, 2018

Companies that are subject to New York’s Cybersecurity Regulation are moving quickly to finalize their compliance obligations under the Cybersecurity Regulation, as the second “due date” quickly approaches – February 15, 2018.   By August 28, 2017, Covered Entities were required to have a cybersecurity program in place, as well as … Read More

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07 December 2017

U.S. Treasury Expresses National Perspective In Response to NAIC Insurance Data Security Model Law

On October 26, 2017, the U.S. Department of Treasury released a 176-page Report examining the current regulatory framework for asset management and insurance industries.  The Report, titled A Financial System That Creates Economic Opportunities: Asset Management and Insurance, identifies laws and regulations that are inconsistent with the Trump Administration’s … Read More

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17 March 2017

NAIC creates new Innovation and Technology (EX) Task Force

The National Association of Insurance Commissioners (NAIC) has created a new task force to monitor technology, data collection and Cybersecurity developments in the insurance industry.  The Innovation and Technology (EX) Task Force (IT Task Force) was formed on March 9, 2017 and reports directly to the NAIC’s Executive Committee.  The  … Read More

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28 February 2017

NYDFS issues final cybersecurity regulations, setting new industry standard for cybersecurity controls

On February 16, 2017, the New York State Department of Financial Services (the “NYDFS”) issued its final regulations setting forth minimum requirements for NYDFS-regulated entities to address cybersecurity risk (“Final Regulations”).  The NYDFS issued the Final Regulations after considering feedback and criticism received during two comment periods  — one following … Read More

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05 January 2017

NYDFS Revises Cybersecurity Regulations Incorporating Risk-Based Approach; Maintains Prescriptive Requirements and Certifications

On December 28, 2016, the New York State Department of Financial Services (the “NYDFS”) issued revised proposed regulations setting forth minimum requirements for NYDFS-regulated entities to address cybersecurity risk (“Revised Proposed Regulations”).  The NYDFS issued the Revised Proposed Regulations after considering feedback and criticism submitted during a 45-day comment period … Read More

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19 September 2016

New York State Department of Financial Services Proposes Regulations Imposing Detailed Cybersecurity Rules on Insurance, Banking and Other Licensed Financial Institutions

On September 13, 2016, the New York State Department of Financial Services (“NYDFS”) proposed regulations outlining minimum requirements for NYDFS-regulated entities to address cybersecurity risk (“Proposed Regulations”). The NYDFS regulates entities and products that are subject to New York insurance, banking and financial services laws. Because the scope of the … Read More

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09 June 2016

Robust Debate at NAIC Cybersecurity Task Force Interim Meeting Highlights Concerns with Draft Insurance Data Security Model Law

On May 24-25, 2016, the Cybersecurity (EX) Task Force of the National Association of Insurance Commissioners (NAIC) held a two-day interim meeting in Washington, D.C. to discuss the Task Force’s preliminary draft of a model law outlining data security standards applicable to insurance licensees.  The Draft Insurance Data Security Model Read More

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22 December 2015

NAIC Amends Cybersecurity “Bill of Rights” for Insurance Consumers

On December 17, 2015, the Executive/Plenary Committees of the National Association of Insurance Commissioners (NAIC) unanimously adopted an amended version of the Cybersecurity “Bill of Rights.”  Renamed the “NAIC Roadmap for Cybersecurity Consumer Protections,” the document now states that while the NAIC believes consumers are entitled to the delineated protections, … Read More

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17 November 2015
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