The New York Department of Financial Services heard the Anthem Inc. data breach loud and clear. According to Frederick Pomerantz and Alex Yastrow of Goldberg Segalla, the DFS issued a report on cybersecurity specifically for the insurance sector. They say this is a timely coincidence, but also prompted in part by the massive breach at the health insurance company, which exposed up to 80 million customers’ personal information to hackers. In addition to the report, DFS has announced its intention to ensure the industry has solid anti-hacking defenses in place.
These measures include examining insurance companies’ cybersecurity preparedness, explain Pomerantz and Yastrow, with what they call “regular, targeted assessments” incorporated into the periodic financial examinations of insurers, as well as adopting regulations requiring heightened levels of cybersecurity.
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