CyberLex
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Tag Archives: insurance

U.S. Federal Insurance Office Issues Report Addressing InsurTech and Traditional Insurance

Posted in Big Data, Cybersecurity, Discrimination, FinTech

The Federal Insurance Office, U.S. Department of the Treasury (“FIO”) released its first annual Report on Protection of Consumers and Access to Insurance (the “Report”). The Report reviews developments and concerns relating to five insurance issues: technology; environmental hazards; fairness in insurance practices; fairness in state insurance standards; and retirement and related issues. The Report… → Read More

NAIC Releases Cybersecurity Bill of Rights for U.S. Insurance Consumers

Posted in Cyberinsurance, Cybersecurity, Data Breach, Standards

On October 15, 2015, the U.S. National Association of Insurance Commissioners (“NAIC”) released the Cybersecurity Bill of Rights (the “Bill”). The Bill, released during cybersecurity awareness month, is intended to improve consumer protection and to assist with updating model laws.  It may, in practice, potentially expand protections to consumers and obligations of insurance companies and… → Read More

NAIC Issues Cybersecurity Guidance for U.S. Insurance Industry

Posted in Cybersecurity

On April 16, 2015, the Cybersecurity Task Force of the U.S. National Association of Insurance Commissioners (“NAIC”)[1] adopted 12 “Principles for Effective Cybersecurity Insurance Regulatory Guidance” (the “Principles”).  The Principles are aimed at both insurers and the bodies that regulate the industry.  Background The NAIC’s Cybersecurity Task Force was formed in November 2014, and is… → Read More