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With New York Cybersecurity Rules in Place, the NAIC Looks to Follow Suit

Michelman & Robinson has written extensively on the cybersecurity requirements for financial services companies that were issued by the New York Department of Financial Services and went into effect on March 1, 2017. These cyber rules, as codified, require insurance and insurance-related companies as well as brokers, agents and adjusters licensed in New York to assess their specific cyber risk profiles and design cybersecurity programs that address such risk in a “robust fashion.”

Now, in the wake of the passage of this law in New York, the National Association of Insurance Commissioners (NAIC) is on the doorstep of adopting an Insurance Data Security Model Law that closely mirrors it in some aspects. And if adopted, the model law will serve as a template for legislation to be enacted state-by-state. (Read More)

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The Ultimate Trade-Off Now Being Offered by Verizon

Verizon Wireless is offering a new reward program called Verizon Ups which allows customers to earn credits that can be redeemed for various offerings, including concert and movie tickets and smartphones. Of course, there’s a catch – being a Verizon customer isn't enough. Participants must also sign up for Verizon Selects, enabling the company to track customers and sell ads based on collected data. (Read More)