As reported here, the NAIC adopted a model law for the protection of the data and systems used by the insurance industry, and South Carolina became the first state to enact legislation based on the NAIC model. In doing so, however, the South Carolina legislature created some uncertainty by
Read More South Carolina Department clarifies confusing change in its new Insurance Data Security Act
Theodore Augustinos
South Carolina becomes First State to enact Insurance Data Security Law based on NAIC Model
As we reported here, and further analyzed here in October 2017, the NAIC adopted an Insurance Data Security Model Law.
On May 3, 2018, the South Carolina Governor made South Carolina the first state in the nation to adopt a comprehensive cybersecurity statute for the insurance industry, by signing…
Read More South Carolina becomes First State to enact Insurance Data Security Law based on NAIC Model
Join Us – Addressing Cybersecurity Risk in Vendor Management
Third party vendors, outsource providers, and cloud providers are critical to the operations of all organizations. Yet they also introduce a significant cybersecurity risk. Locke Lord’s Privacy & Cybersecurity group will present a complimentary, in-depth review of the key regulatory requirements for vendor cybersecurity, followed by a presentation of a…
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The March 1 Deadline for NY DFS Cyber Compliance: One Week to Go!
As we reported here, March 1, 2018 brings a new transition date, with a new set of compliance obligations for Covered Entities subject to the Cybersecurity Regulation of the New York Department of Financial Services. By March 1, Covered Entities will need to have complied with the Risk Assessment…
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NY DFS Cybersecurity Compliance Certificate Required Today; Additional Requirements Looming
As previously warned here, February 15, 2018 is the first annual deadline for individuals and companies licensed or otherwise authorized under the New York Insurance, Banking and Financial Services laws (defined as Covered Entities) to certify compliance with the Cybersecurity Regulation of the New York Department of Financial Services,…
Read More NY DFS Cybersecurity Compliance Certificate Required Today; Additional Requirements Looming
Cybersecurity Reminder and Heads Up from NY DFS: File Cybersecurity Reg Compliance Certificates, and Prepare for Cybersecurity Questions in Exams
A press release issued by the New York Department of Financial Services on January 22, 2018 found here reminds Covered Entities (including banks, insurers and producers, and others regulated by DFS) of their obligation to file a compliance certificate under the new, New York DFS Cybersecurity Regulation on February 15,…
Read More Cybersecurity Reminder and Heads Up from NY DFS: File Cybersecurity Reg Compliance Certificates, and Prepare for Cybersecurity Questions in Exams
Less than One Month To Go!
On February 15, many insurance companies, producers and others with New York DFS licenses and other authorizations (except for certain entities and employees who have filed for an exemption) will need to file a compliance certificate as required by the New York Department of Financial Services Cybersecurity Regulation. As described…
Read More Less than One Month To Go!
NAIC Adopts Model Cybersecurity Law
Based largely on the NY DFS Cybersecurity Regulation that became effective March 1, 2017, the NAIC has adopted a Model Cybersecurity Law that would, once adopted by the various states, establish significant requirements for insurance industry licensees to adopt cybersecurity policies and procedures, to conduct risk assessments, to address the…
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NY DFS Cybersecurity Exemption Filings due October 30
October 30, 2017 is the extended deadline for most Covered Entities claiming an exemption to file the Notice of Exemption required by the NY DFS Cybersecurity Regulation (23 NYCRR 500.19(e)). The filing deadline is 30 days after a Covered Entity has determined that an exemption applies. Therefore, for Covered Entities…
Read More NY DFS Cybersecurity Exemption Filings due October 30
NY DFS Cybersecurity Regulation Exemption Deadline Extended
As previously reported, covered entities (including insurance companies and producers, and other licensees including individuals) that are subject to an exemption under the New York Department of Financial Services Cybersecurity Regulation were required to file a Notice of Exemption by September 27, 2017. Having recently authorized “batch exemption” filings by…
Read More NY DFS Cybersecurity Regulation Exemption Deadline Extended