Surety Matters

Our blog covering the latest in bonds and insurance
Cyber 05.30.2019

Equifax Took Cybersecurity Seriously, Was Still Hacked

Every organization should take cybersecurity seriously, from the mom and pop shop down the street to Amazon. Equifax CEO Mark Begor testified to the United States Senate that the company took cybersecurity seriously prior to…
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Equifax Took Cybersecurity Seriously, Was Still Hacked
Cyber 05.30.2019

New Jersey Expands Data Breach Laws

New Jersey recently passed a law requiring businesses to notify consumers of online breaches. This, theoretically, would allow consumers to change information to limit attackers’ access to their accounts, such as passwords or usernames. It…
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New Jersey Expands Data Breach Laws
Cyber 05.30.2019

Pension Industry Vulnerable to Cyber Attacks

According to a new report from Moody’s Investors Service, some of the industries most likely to be attacked by cyber attacks are finance, investment, and securities. This includes the retirement and pension industries as all…
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Pension Industry Vulnerable to Cyber Attacks
Cyber 05.30.2019

Plan Sponsors Specifically Threatened by Cyber Attacks

Retirement plans and, specifically, their plan sponsors are being threatened more and more by cyber attacks. Recordkeepers, custodians, and third party administrators are used to being attacked due to all the valuable personal data they…
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Plan Sponsors Specifically Threatened by Cyber Attacks
Cyber 05.30.2019

The Fiduciary Duty of Protecting Against Cyber Attacks

Under ERISA, fiduciaries are subject to the prudent expert standard of care, in which they have to act with diligence, care, and skill an expert under the circumstances in their field would. They also owe…
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The Fiduciary Duty of Protecting Against Cyber Attacks
Cyber 05.29.2019

There is No Consensus Way to Stop Retirement Plan Cyber Attacks

The United States doesn’t have a national regulatory system for governing cybersecurity. There’s no consensus framework in the country for evaluating the effectiveness of cyber protections. Based on the available information, it seems as if…
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There is No Consensus Way to Stop Retirement Plan Cyber Attacks
Cyber 05.29.2019

Types of Cyber Attacks for Plan Sponsors to Watch Out For

Retirement plans and plan sponsors are coming under attack from cyber attacks. The obvious response is to take precautions to prevent a cyber attack from hitting your retirement plan. But how can you do that without knowing…
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Types of Cyber Attacks for Plan Sponsors to Watch Out For
Cyber 05.29.2019

Anti-Virus Software Will Not Protect Your Plan From Cyber Attacks

Your company computer may have an anti-virus program installed on it, but if you think that’s enough to prevent your retirement plan from succumbing to cyber attacks and data breaches, you have another thing coming….
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Anti-Virus Software Will Not Protect Your Plan From Cyber Attacks
Cyber 05.29.2019

DOL: Plan Sponsors Must Protect Electronic Plan Information

ERISA does not specifically lay out rules and regulations regarding protecting plan data, but the U.S. Department of Labor has addressed the vulnerability of electronically sent plan information. In Regulation Section 2520.104b-1(c), the DOL stated that…
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DOL: Plan Sponsors Must Protect Electronic Plan Information