NAIC Working Group Exposes Revisions to Incorporate Cybersecurity Considerations into Financial Conditions Examiners Handbook
Posted on Jul 24, 2015 in Insurance | Comments Off on NAIC Working Group Exposes Revisions to Incorporate Cybersecurity Considerations into Financial Conditions Examiners Handbook
In an effort to set cybersecurity readiness standards for the insurance industry, the National Association of Insurance Commissioners (NAIC) IT Examination (E) Working Group (“Working Group”) has exposed revisions to incorporate Cybersecurity Considerations (“Considerations”) into the NAIC Financial Conditions Examiners Handbook (“Handbook”). The Considerations instruct examiners to...
Recent Data Breach Insurance Coverage Decision: Court Holds Insurer Not Obligated to Cover Damages from Lost Tapes Containing Personal Information When No Evidence Tapes Were Read
Posted on May 22, 2015 in Financial Services | Comments Off on Recent Data Breach Insurance Coverage Decision: Court Holds Insurer Not Obligated to Cover Damages from Lost Tapes Containing Personal Information When No Evidence Tapes Were Read
The Connecticut Supreme Court recently issued an opinion confirming that a Commercial General Liability (CGL) policy’s personal or advertising injury coverage did not provide coverage for damages resulting from lost data storage tapes where the tapes contained personal identifying information, but the party seeking coverage could not show that the tapes had been accessed. Recall Total...
Cybersecurity Is Key Priority for FSOC in 2015
Posted on May 22, 2015 in Uncategorized | Comments Off on Cybersecurity Is Key Priority for FSOC in 2015
Cybersecurity was a critical area of focus of the Financial Stability Oversight Council’s (“FSOC”) recently released 2015 Annual Report (the “Report”). The Report, which provides both a consolidated view of important challenges facing the financial system and a road map of FSOC’s key priorities in the upcoming year, identified cybersecurity as a growing concern and warned that cyber...
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