Regulators in California and New York show an increased interest in cyber security
Regulators in California and New York are concerned about the increased risk and sophistication of cyber attacks on the security of personal information collected by regulated entities. This month, both the California Department of Insurance and the New York Department of Financial Services have announced new efforts to assess and examine the ways in which regulated entities are managing cyber-security risk.
On 16 May 2014, the California Department of Insurance issued a notice to all admitted insurers, insurance producers and other interested parties, requesting that it be provided with copies of any data breach notifications or other information submitted to the attorney-general’s office in accordance with California’s data breach notification law…
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