Reinsurance broker Guy Carpenter & Co. has entered into a strategic relationship with RiskGenius, an insurtech firm that utilizes AI technology to evaluate emerging ...
InsurTech companies and insurance technologists are confronting the challenges and business process changes required to keep operations running during this crisis. Some ...
The Latest from Mayer Brown
Brexit Brexit: The Way Forward Across the Brexit Finish Line – And Now What? Brexit: How Will It Affect My Business? The Implications ...
Notable developments in the e-discovery and information governance space in 2019 included the lead-up to the California Consumer Privacy Act, which came into effect ...
The world of insurance is changing as new ways of doing business are making their mark on the industry.
Investment in the insurance technology space is continuing to ...
On January 8. 2020, the White House and the US Department of Transportation (“DOT”) released new guidance, Ensuring American Leadership in Automated Vehicle ...
Cyber attacks now reach a broad range of connected devices, ranging from connected toys, fitness trackers, home alarm systems, cars and medical devices to connected ...
The Latest from Mayer Brown Regulatory Corner: California Attorney General Releases Proposed Regulations for the CCPA [Mayer Brown] Cyber Resilience for Insurers - ...
On October 7, 2019, the United States and United Kingdom released the text of a bilateral data access agreement that would permit law enforcement authorities in one ...
The number of cyber attacks are on the increase and so is its level of sophistication. Because insurance companies are data-driven businesses holding vast amounts of ...
In the age of interconnected devices and big technology, hearing about cyber attacks in the headlines is a common news story. More than 40 municipalities have been the ...
While most companies are squarely focused on the California Consumer Privacy Act (CCPA), 2019 has seen other major developments on data privacy and security. Several ...
In July 2019, the UK Information Commissioner’s Office (ICO), a European data protection supervisory authority, has flexed its muscles and has announced its intention ...
As companies digitize businesses and automate operations, cyber risks proliferate, necessitating cybersecurity organizations to support a secure digital agenda. ...
In the world of intellectual property rights, there are cracks the law doesn’t reach—areas that do not sit squarely within copyright, patent, or trade secret law. ...
Enterprise cloud operations are expanding and maturing, but as with any natural maturation, inevitable growing pains must be endured and overcome.
As organizations ...
The Latest from Mayer Brown Regulatory Corner: Acquiring Ownership – Considerations in Acquiring a “Controlling” Interest in a US Insurance Company [Insurtech by ...
Artificial intelligence (AI) is the newest golden child in technology. While definitions abound, we will define artificial intelligence as "the theory and development of ...
The New General Law of Data Protection (LGPD) innovates how the personal data must be processed by companies in Brazil. Inspired by the European General Data Protection ...
The Latest from Mayer Brown Regulatory Corner: Breaking Down Blockchain - Implications of Blockchain Technology for the Insurance Industry [Insurtech by Mayer ...
As the decade comes to a close, new technologies are having a major impact on how insurance industry participants conduct their operations – especially how they ...
Mayer Brown’s Technology Transactions Practice is pleased to announce the release of Legal Perspectives for Technology & Innovation: Insights. Written for in-house ...
The Latest from Mayer Brown Regulatory Corner: The California Consumer Privacy Act - Key Takeaways for Insurers and Insurance Regulators [Insurtech by Mayer ...
Interest in blockchain has grown dramatically, with a rapid increase in investment and engagement. Over the course of 2017, numerous companies in financial, ...
The Latest from Mayer Brown Regulatory Corner: Corporate Governance Gaining Ground – An Update on the NAIC Corporate Governance Annual Disclosure Act [Insurtech by ...
Insurers believe that fraud in on the rise, and they are increasingly turning to advanced analytics to fight it, according to the results of a survey released by the ...
Some of the world’s biggest insurers plan to work together on an assessment of the best cybersecurity available to businesses, an unusual collaboration that highlights ...
On March 5, 2019, the Federal Trade Commission (“FTC”) proposed a number of revisions to its Gramm-Leach-Bliley Act (“GLBA”) regulations, which would (i) ...
The Banking Policy Department of the Hong Kong Monetary Authority (HKMA) published a circular (BCBS Statement on Crypto-Assets) on March 18, 2019 in light of a ...
The Latest from Mayer Brown Global Insurance Industry Year in Review 2018 [Mayer Brown Publication] Regulatory Corner: An Unconventional Circular Letter - NYDFS ...
In this third episode of Mayer Brown's Tech Talks, the Firm's partners Christian W. Fabian, Stephen Lilley and Lei Shein, focus on data privacy and cybersecurity issues ...
Healthcare fraud costs tens of billions of dollars each year in the US alone, according to the FBI; this figure could soon be on the decline, though, as artificial ...
Regulatory Corner: Finding Common Ground - Recent Developments in International Supervision [Insurtech by Mayer Brown]
Artificial ...
A coordinated global cyber attack, spread through malicious email, could cause economic damages anywhere between $85 billion and $193 billion, a hypothetical scenario ...
With technology initiating dramatic changes that are reshaping the insurance industry, the forward-looking insurers are taking action and making investments that will ...
Regulatory Corner: Keeping it Private - GDPR and Developments in Data Privacy in 2018 [Insurtech by Mayer Brown]
Push for Standardized ...
Where do insurers stand as they enter 2019?
In Deloitte's 2019 report, this question is explored, among many more, regarding how the insurance industry must transform ...
The 2018 McKinsey Digital Insurance Compendium synthesizes highlights from the past year that demonstrate the progress that has been made in reinventing the insurance ...
As more healthcare organizations face the daunting task of dealing with a data breach, more of them will have to become intimately familiar with the HIPAA Breach ...
The Latest from Mayer Brown Regulatory Corner: Reinsurance Collateral Requirements - They Are A-Changing [Insurtech by Mayer Brown] Missiles, Malware and Merger ...
Cyberattacks are more costly than the reoccurring damage from natural disasters: US$3 trillion in 2015, a price that is projected to climb to $6 trillion annually by ...
A new survey from Willis Towers Watson (WTW), has reported that the insurance-linked securities (ILS) market is here to stay. The Global ILS Market Survey finds that ...
Moody's Corporation announced last week that it has invested in Team8 Partners II, L.P., the second vehicle by Team8, a leading think tank and company creation ...
In a press release earlier this month, the Securities and Exchange Commission issued an investigative report cautioning that public companies should consider cyber ...
The Latest from Mayer Brown Regulatory Corner: Deciphering Cybersecurity Initiatives in the Insurance Industry [Mayer Brown] New Guidebook from Mayer Brown: ...
Chubb INA Group has surpassed AIG to become the largest cyber underwriter in the US. According to data by AM Best, Chubb wrote $284.4 million in cyber direct premiums ...
London-based insurtech start-up Blocksure has launched a new blockchain platform for the insurance industry that it claims could cut back-office cost by ...
Three of the largest names in the insurance industry—Aon, Chubb, and Lloyd’s—collaborated to launch a risk solution to address terrorism and political violence, ...
Mayer Brown Tech Talks, Episode 1: Staying Ahead of AI with Rebecca Eisner [Mayer Brown]
California Enacts GDPR-Like Consumer Privacy Protections: What You Need to ...
The state of California recently enacted the most sweeping general privacy statute in the United States. The California Consumer Privacy Act, codified in Assembly Bill ...
ACORD, the insurance and reinsurance industry data standards body, has collaborated with Aon and Beazley on the development of the ACORD Cyber Data Breach Standard, a ...
Canaan Partners Launch New $20M Investment Strategy [Tech Crunch]
KPMG: Insurance Firms Eye M&A and Partnerships for Growth [KPMG]
Insurtech MGA Corvus ...
Corvus Insurance, an insurtech managing general agent, has released a new cyber insurance offering for organizations with up to $1 billion in annual revenue.
The new ...
Lemonade Launches First Ever Open Source Policy [Insurance Business]
QBE Pours Investment into AI Start-Up [Market Insider]
And So it Begins.. South Carolina ...
South Carolina became the first state to enact into law a comprehensive cybersecurity law requiring insurers to "establish a strong and aggressive program to protect ...
Bermuda Invites Insurtechs to Play in its Sandbox [Bermuda Monetary Authority]
Beazley Bets on Blockchain [Reuters]
2030: Welcome to an AI-driven Insurance World ...
Global Regulators Team Up to Bring Ideas (and Toys?) to International Regulatory Sandbox [Reuters]
Cigna Partners with Amazon to Bring New Voice (and Answers) to ...
The Infosys digital outlook report finds that the four digital technologies most in use by re/insurers today are big data for customer insight and wallet share, cyber ...
The World Economic Forum Tackles Cybersecurity Regulation [Digital Insurance]
U.S. Treasury Report to take 'Fresh Look' at Nonbank Fintech Regulation [American ...
The World Economic Forum has announced a consortium aimed at addressing strengthening cybersecurity for fintech companies and data collectors as the industry moves to an ...
The National Association of Insurance Commissioners (NAIC) are proposing to spend about $12 million over the next three years to improve the organization's information ...
2018 Outlook: Cybersecurity and Data Privacy, a Mayer Brown report [Mayer Brown]
Amazon-Berkshire Hathaway-JP Morgan Target Healthcare [The New York Times]
NAIC ...
Apple and Cisco have announced a partnership with Aon PLC and Allianz Global Corporate & Specialty to offer discounted cyber insurance policies for companies that ...
The cybersecurity and data privacy landscape raised new and challenging questions for businesses and governments around the world in 2017. We are poised to see new waves ...
Dissecting NAIC’s Insurance Data Security Model Law : Mayer Brown's Larry Hamilton, Jeff Taft, Matt Bisanz and Evan Sippel-Feldman dig into the NAIC’s Insurance Data ...
Mayer Brown's Larry Hamilton, Jeff Taft, Matt Bisanz and Evan Sippel-Feldman describe the relevant definitions and scope of the NAIC’s Insurance Data Security Model ...
Key Issues and Trends in the Insurtech Ecosystem [Mayer Brown]
NAIC Adopts Insurance Data Security Model Law - Legal Update [Mayer Brown]
More Firms Join ...
California insurtech startup At-Bay has launched a product that intends to “redesigned insurance, with cyber security expertise at its core.”
According to At-Bay ...
On October 24, 2017, the National Association of Insurance Commissioners (NAIC) adopted an Insurance Data Security Model Law (Model Law) that builds on existing data ...
A new generation of fintech providers is offering products that allow customers to access and aggregate information about accounts at other financial institutions that ...
Mayer Brown partner Larry Hamilton appeared on NPR's Marketplace to discuss new cybersecurity regulations for financial institutions in New York.
The National Association of Insurance Commissioners (NAIC) cybersecurity panel has passed its proposed data security model law. The final law stipulates that insurers ...
Technology aiding new lines of risk: Times are a-changing in the ILS market [Artemis]
Could insurtech be the key to Flood Insurance? [Insurance Journal]
Apple, ...
Apple has announced that it is working with Cisco Systems to help its customers who primarily use both companies to get a discount on cybersecutiy insurance ...
Allianz gains liability risk ID tool [Insurance Journal]
AIG has data-analytics on its mind [Insurance Journal]
Sherpa/Gen Re partnership takes aim at the ...
There were 312 data breaches just through mid-March in 2017, even before the WannaCry breach, and this even as cybersecurity investments are at a major high. Against ...
On 11 April 2017, the Cybersecurity Administration of China (CAC) released the draft Security Assessment Measures for Cross-Border Transfer of Personal Information and ...
On April 4, 2017, the Article 29 Working Party ("WP29"), the group representing national data protection regulators in the European Union, following their April plenary ...
Zurich has partnered with BAE to implement BAE's NewReveal system. NetReveal uses data analytics to uncover hidden links and potential fraud.
Learn more about ...
An article discussing the recent NYDFS cybersecurity regulation by Mayer Brown's Stephen Lilley and Financial Services Regulatory & Enforcement associate Matthew Bisanz ...
In a bylined article, Mayer Brown Technology Transactions partner Rebecca Eisner and associate Lei Shen (both Chicago) discuss some of the issues to consider as you ...
Mayer Brown provides a Legal Update on New York's final cybersecurity regulation for banks, insurance businesses and other financial services institutions.
Read the ...
McKinsey & Company evaluates areas of risk that US commercial lines insurers will have to address in order to enhance the value they deliver and develop new ...
In this report, Mayer Brown's Global Insurance Industry Group discuss developments and trends in insurance industry transactions in the past year in North America, ...
A new report highlights key issues that companies and legal departments should expect to confront in responding to cross-border cyber incidents, from managing ...
The landscape for cyberattacks is constantly evolving. Attacks are becoming more global and sophisticated, and 2019 is poised to continue this trend toward increasing ...
Cybersecurity and data privacy presented some of the most complex legal questions and business risks that multinational companies faced in 2018. Businesses should expect ...
On January 23, the European Commission (the "EU Commission") authorized the free flow of personal data to Japan. This "adequacy decision," issued jointly with a ...
On January 7, 2019, the US self-regulatory organization the National Futures Association (“NFA”) announced that it had adopted amendments to its information security ...
In late December, Ohio became the second state to adopt the National Association of Insurance Commissioners’ (NAIC) Insurance Data Model Law, joining South Carolina in ...
The use of artificial intelligence (“AI”), which may be defined as the development of computer systems able to perform tasks normally associated with human ...
On August 13, 2018, President Trump signed into law the Foreign Investment Risk Review Modernization Act, or FIRRMA. This legislation was designed to enhance US national ...
On September 27, 2018, the Computer Crime and Intellectual Property Section (“CCIPS”) of the Criminal Division of the US Department of Justice (“DOJ”) released a ...
Policymakers long have wrestled with how to enhance private-sector cybersecurity without imposing prescriptive one-size-fits-all requirements that undermine effective ...
On September 28th, California Governor Jerry Brown signed a first-of-its kind law to regulate the security of connected devices that make up the “Internet of Things” ...
What does a nuclear missile accident have in common with a cybersecurity or data privacy issue in M&A? In both cases, small missteps can lead to wide-ranging and ...
The past five years have seen a massive acceleration in the amounts of data being generated, processed and stored in virtually every industry, including insurance. As ...
The cybersecurity and data privacy landscape continues to change, creating significant new risks for businesses across economic sectors. New types of litigation are ...
Bylined article by Financial Services Regulatory & Enforcement partner Jeffrey Taft (Washington DC), Corporate & Securities partner Larry Hamilton (Chicago), ...
Our Global Insurance Industry Year In Review for 2016 discusses developments and trends in insurance industry transactions in the past year in North America, Bermuda, ...
Companies across industry sectors have developed risk-based cybersecurity programs to respond to the substantial and complex cyber threats they face. Managing ...
Cybersecurity and data privacy issues continued to grow in significance for multinational businesses over the past 12 months, further heightening the importance of ...
