As public companies’ reliance on remote work, cloud computing and digital payments increases, so too does the cybersecurity risk. Recognizing this, the SEC finalized rules and regulations in September 2023 requiring new cybersecurity-related disclosures from public companies. In prior efforts to improve consistency and accuracy of public company cybersecurity risk disclosures, the SEC issued interpretive
Navigating Cybersecurity and Data Privacy Regulations in the Insurance Industry
For over 100 years, the National Association of Insurance Commissioners (NAIC) has been developing model legislation to encourage uniformity among states for the regulation of insurance products. The NAIC model laws and guidelines are proposed statements of insurance regulation for all 50 states as well as the other jurisdictions (such as D.C. and Guam). Once passed, states can choose to adhere to the NAIC’s model laws fully, with modifications, or not at all. If a state chooses to adopt the model law, its adoption will apply to all insurance carriers, managing general agents, agencies, and producers operating in that state. Continue Reading Navigating Cybersecurity and Data Privacy Regulations in the Insurance Industry