Privacy/Data Security/Cyber Risk

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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

Locke Lord’s Insurance & Reinsurance Newsletter provides topical snapshots of recent developments in the fast-changing world of insurance. For further information on any of the subjects covered in the newsletter, please contact one of the members of our Insurance team.

In This Issue:

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Read More Insurance and Reinsurance Newsletter – September 2017

Beginning October 1, 2017, health insurers, health care centers, pharmacy benefits managers, and third party administrators that administer health benefits, and utilization of new companies, licensed in Connecticut, will be required to file their first annual certification to the insurance department that it maintains a comprehensive information security program in…

Read More Cybersecurity Compliance Requirements are Piling Up

The New York Department of Financial Services (“DFS”) has recently taken a leading stance on strengthening the cybersecurity standards within the insurance sphere, but its reach has been curtailed due to pressures within the industry. Pursuant to 23 NYCRR Part 500 (the “Regulation”), every “Covered Entity” must maintain a cybersecurity…
Read More New York Bolsters Security Standards for Insurers, but exempts certain RRGs, Captives, and Others

Please join BDO USA, LLP, Locke Lord LLP, and Sandler O’Neill + Partners, L.P. for a complimentary breakfast briefing. This event will highlight key considerations in a successful M&A transaction or capital raising transaction in today’s economic climate for the insurance industry – what do we anticipate next?

Presenters:

Marc…
Read More Please Join Us – Insurance M&A and Capital Raising Roundtable

Locke Lord’s Insurance & Reinsurance Newsletter provides topical snapshots of recent developments in the fast-changing world of insurance. For further information on any of the subjects covered in the newsletter, please contact one of the members of our Insurance team.

In This Issue:

  • “New Corporate Governance Annual Disclosure Requirements for

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Read More Insurance and Reinsurance Newsletter – January 2017

As previously reported and explained here, the New York State Department of Financial Services (DFS) promulgated a proposed regulation mandating cybersecurity requirements for all licensees, including insurance companies and producers, banks, and others. In response to 150 comments received from the industry, a revised proposed regulation was published December…
Read More New Cybersecurity Requirements coming for NYS DFS Insurers, Producers, and Other Licensees

The EU-U.S. Privacy Shield (the “Privacy Shield”) has been promulgated through a joint effort between the United States (the “U.S.”) and the European Union (the “EU”) in order to facilitate the transfer of personal data from the EU to U.S. companies. The Privacy Shield officially went live on August 1…

Read More Locke Lord’s Zach Lerner, Associate in the New York office, Co-Authors “The Privacy Shield and its Impact on U.S. Insurance Companies” for FORC Fall 2016 Edition

The Illinois Department of Insurance (“IL DOI”) has amended its record disposal and destruction regulation effective May 23, 2016, significantly reducing reporting, book-keeping and retention obligations for Illinois domestic insurers, as well as any principal U.S. office of a foreign or alien insurer located in Illinois. The amendment to Title…
Read More Update: Illinois Adopts Amendment to Simplify Insurer Record Retention and Destruction Requirements