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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 authorized to write life insurance in New York (the 308 Request) requesting information about how they use “external consumer data” and algorithms in their underwriting...

The Future of Artificial Intelligence: Autonomous Vehicles and Beyond

Did you know that 90% of vehicle-related deaths are attributable to human error? In this Bottom Line videocast, The Future of Artificial Intelligence: Autonomous Vehicles and Beyond is discussed by Eversheds Sutherland (US) Partner Michael Nelson and Eversheds Sutherland (International) Partner Charlotte Walker-Osborn. By embracing artificial intelligence, companies and consumers need...

EU-U.S. Privacy Shield – Full Text Released

On February 29, 2016, the European Commission released the text of the EU-U.S. Privacy Shield. The text reveals the details of a new framework that will place stronger obligations on U.S. companies to protect the personal data of EU citizens. It will also involve heightened compliance requirements and authorizes enforcement measures by the U.S. Department of Commerce (Commerce) and the...

Data Sentinel: The Evolving Role of the Attorney as Protector of Company Data

Data. It is one of your organization’s greatest assets, and a necessary part of doing business. But in today’s financial services environment, it is also a source of one of your organization’s greatest risks. In their article for FinTech Law Report, Sutherland attorneys Michael Steinig and Mary Jane Wilson-Bilik describe the attorney’s evolving role in protecting company data, and...

Pros and Cons of the Payment Card Industry Data Security Standard

The Payment Card Industry Data Security Standard (the PCI DSS) establishes the self-described minimum data protection measures required of all entities involved in payment card transactions. The PCI DSS consists of 12 basic requirements, along with testing procedures and guidance designed to assist entities in meeting each requirement. The PCI DSS itself is not a law or regulation, and...

EU-US Privacy Shield: European Union and U.S. Reach Agreement in Principle for New Data Transfer Framework – But Uncertainty Remains

On February 2, 2016, the European Commission (EC) and the U.S. Department of Commerce (Commerce) announced that they had reached agreement on a new data transfer safe harbor arrangement for the transfer of personal data from Europe to the U.S. The new safe harbor pact, called the EU-US Privacy Shield, was negotiated in the wake of the EU Court of Justice’s (CJEU) decision in October...

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