Data security

The ERISA Advisory Council addresses the looming risks of cyber theft and ransomware, argues attorneys Larry R. Goldstein and Maria P. Rasmussen,.

One of the world’s largest cybersecurity companies agrees to buy identity-theft protection services company for about $2.3 billion including debt to expand in services for identity protection.

The Office for Civil Rights will begin investigating breaches or protected health information that affect less than 500 individuals, says attorney Sheryl Feutz-Harter.

When it comes to workplace security and identity protection, employers are increasingly turning to their brokers for solutions, says EZ Shield’s Angela Murphy.

After high profile breaches at Sony, Target and Yahoo, the next victims could be the insurance community. The target: employee Social Security numbers.

Fiduciaries who do not follow security standards may be personally liable to restore losses to plan participant benefits.

As payoffs grow, hackers are mounting more sophisticated attacks, and threats are increasingly pernicious, says FTC Chairwoman Edith Ramirez.

Technology has opened brokers up to liabilities and compliance nightmares through data breaches, hackers, and other cyber security risks.

Despite a push toward these options, there are issues that have arisen, explains Steve Smith, partner at The Starr Conspiracy.

Despite a push toward these options, there are issues that have arisen, explains Steve Smith, partner at The Starr Conspiracy.

Plan sponsors would be wise to ask their healthcare vendors if they have insurance policies in place to cover data breaches and other risks, according to USI’s Paul King.

Plan sponsors would be wise to ask their healthcare vendors if they have insurance policies in place to cover data breaches and other risks, according to USI’s Paul King.

Retirement plan sponsors should develop a comprehensive risk management strategy that includes the periodic review of contractual protections with their TPAs.

Pension plans and welfare plan all store personal data on each participant and beneficiary, ranging from social security numbers and addresses to date of birth and health information. The more immediate and available personal data becomes, the greater the risk for a potential breach or unauthorized disclosure or access, as is evident from the cyber attacks on major retail operations, health care providers and the government.

The Strategic Insurance Agency Alliance partners with LifeLock to offer ID theft protection to employer-clients.

Offered as a voluntary benefit through a partnership with LifeLock, these new services address a growing problem and mounting interest among employers.

JD Powers of Powers Insurance and Benefits discusses cyber risks and how to protect against them.