The Lloyd’s Market Association (the “LMA”) recently released four model clauses to exclude coverage for “war” from cyber insurance policies. The exclusions align with the requirement that all insurance policies written at Lloyd’s must exclude losses caused by war. Given the insurance industry’s weakening appetite for cyber risks, the issue for insureds is the extent

CMMC 2.0 – Simplification and Flexibility of DoD Cybersecurity Requirements

Continuing Effort to Protect National Security Data and NetworksEvolving and increasing threats to U.S. defense data and national security networks have necessitated changes and refinements to U.S. regulatory requirements intended to protect such.

In 2016, the U.S. Department of Defense (DoD) issued a Defense Federal Acquisition Regulation Supplement (DFARs) intended to better protect

FTC Finalizes Updated Safeguards Rule Under GLBA to Dramatically Expand Data Security Requirements and Scope of RuleUntil now, companies primarily regulated by the Federal Trade Commission (FTC) were given only vague directives to implement systems sufficient to safeguard customer data, coupled with FTC “recommendations” as to best practices. That is about to change with the FTC’s finalization of its proposed amendments to the Standards for Safeguarding Customer Information (Safeguards Rule) on

A Fintech Leader’s Thoughts on the North Carolina Regulatory Sandbox Act

As part of Bradley’s continuing coverage of the North Carolina Sandbox Act, we wanted to know what community members and NC fintech aficionados thought about this proposed legislation. We posed six questions to Tariq Bokhari, an influential leader in the financial technology (fintech) industry, who serves as the executive director of the Carolina Fintech

Another Data Privacy Law? Colorado Enacts the Colorado Privacy ActColorado became the third state to enact comprehensive data privacy legislation when Gov. Jared Polis signed the Colorado Privacy Act (CPA) on July 8, 2021. The CPA shares similarities with its stateside predecessors, the California Consumer Privacy Act (CCPA), the California Privacy Rights Enforcement Act (CPRA), and the Virginia Consumer Data Protection Act (VCDPA), as

Technology Boom in NC? What You Should Know About the Proposed Regulatory Sandbox in the Tarheel StateTechnology is evolving and advancing at a dizzying pace across the globe. Emerging technologies are reimagining everything from how we interact with each other to how we interact with businesses and institutions. Given the upward trajectory of technology, it seems that the “innovation” business is ripe for opportunity — an opportunity that appears poised to

Energy and Infrastructure Companies Need to Know about the DOE’s and Other Agencies’ Focus on CybersecurityOn March 18, 2021, the Department of Energy’s (DOE) Office of Cybersecurity, Energy Security, and Emergency Response (CESER) announced three new research programs that are “designed to safeguard and protect the U.S. energy system” from potential cyberattacks. The DOE also announced a 100-day plan to address cybersecurity risks to the U.S. electric system. Not to

Executive Order on Cybersecurity Sets Aggressive TimelineThe Colonial Pipeline cyberattack prompted the issuance of a long-awaited executive order (EO) on improving U.S. cybersecurity. The EO mandates that, within six months, all federal agencies implement multi-factor authentication (MFA) and both at-rest and in-transit encryption. It also calls for agencies to comprehensively log, share, and analyze information about cyber incidents and creates a

Circuit Split No More: 2nd Circuit Clarifies Article III Standing in Data Breach CasesWhile more states push forward on new privacy legislation statutorily granting consumers the right to litigate control of their personal information, federal courts continue to ponder how data breach injury fits traditional standing requirements. Previous to McMorris v. Carlos Lopez, McMorris v. Carlos Lopez & Assocs., LLC, many have argued there was a circuit

Florida Legislature Considers Sweeping Data-Privacy Legislation Supported by GovernorFlorida has joined the wave of states considering new comprehensive data privacy legislation. On February 15, 2021, Rep. Fiona McFarland introduced HB 969, modeled after the California Consumer Privacy Act (CCPA). The bill is supported by Gov. Ron DeSantis and the speaker of the Florida House. As introduced, HB 969 would apply to for-profit businesses