Privacy Litigation Risk Grows ‘Substantially,’ According to Coalition Report
Lawsuits over how businesses collect and use data have surged, driven largely by aggressive plaintiff’s attorneys leveraging decades-old privacy laws in modern contexts.
Legal and Compliance
3 Questions to Confirm Who Owns Your Agency’s Data
Who really owns that data once it’s stored in a vendor’s system? What happens if an agency decides to switch platforms? And can agents freely connect their data across tools to build the client experience they want, or are they locked into whatever their vendor dictates?
New NYDFS Cybersecurity MFA Requirement Effective Nov. 1
Although the NYDFS Cyber Regulations may not apply directly to your business, independent insurance agencies operating in other jurisdictions could still see impacts.
7 Important Data Security Features to Look for in InsurTech Providers
While there’s no way to guarantee your agency will never be susceptible to an attack on your systems or data, there are steps you can take to understand and increase the security of your client data.
Big ‘I’ Advocates for Agents as Lawmakers Review Consumer Data Privacy Laws
The Big “I” voiced its support for keeping state insurance regulators in charge of implementing and enforcing federal privacy standards and adopting any necessary sector-specific guidance within the insurance industry.
U.S. Business Leaders’ Cyber Confidence Declines, Says Beazley Report
As the cyber threat landscape becomes more complex, preparedness against cyber risks is declining with only 73% of U.S. business leaders feeling resilient against the cyber risk.
Lawmakers Introduce the American Privacy Rights Act of 2024
The legislation would establish national standards for data privacy and security, requiring certain entities to be transparent about how they use data and give consumers the right to access, correct, delete and export their data.
Average Cost of a Data Breach Reaches All-Time High, says IBM Report
The global average breach cost reached $4.45 million, with detection and escalation the most expensive component—indicating a shift toward more extended and complex investigations.
Data Privacy Considered in Congress: What You Should Know
Two top House committees considered legislation that would impact how agents and brokers conform with national data privacy laws and standards.
Does an Agency Need Consent Before Texting a Prospect or Client?
Is a verbal response acceptable or is there a formal way an agency needs to document proof of consent prior to texting?
