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WHAT HAPPENED WITH THE KASEYA HACK?

​​​A guest post by Walter Contreras of Motiva​The biggest global ransomware attack yet continued to bite Monday as details emerged on how the Russia-linked gang responsible breached the company whose software was the conduit. In essence, the criminals used a tool that helps protect against malware to spread it widely.An affiliate of the notorious REvil gang, infected thousands of victims in at least 17 countries on Friday, largely through firms that remotely manage IT infrastructure for multiple customers, cybersecurity researchers said.REvil was demanding ransoms of up to $5 million. But late Sunday it offered in a posting on its dark web site a universal decryptor software…

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Industry Roundup: July 9, 2021

​Some in Congre​​ss Push for Delay of Risk Rating 2.0In recent months, several members of Congress have expressed concern with FEMA's implementation of Risk Rating 2.0, and in some cases have gone so far as to push for a delay of the program's implementation. Risk Rating 2.0 is FEMA's new pricing methodology for the National Flood Insurance Program (NFIP). It is currently scheduled to be implemented starting on Oct. 1 for new policies and for those seeking to renew policies that will see lower rates under Risk Rating 2.0. It will be implemented for all other renewals starting in April 2022.Autonomous Vehicles: When Will They…

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DFS Proposes New Required Topics For Producer Continuing Ed

​The New York State Department of Financial Services has proposed a new regulation that would, for the first time, require insurance agents and brokers to take courses on specific topics to meet their continuing education (CE) obligations. If adopted, the new requirements would take effect next April.The proposed regulation​ does not increase the number of CE hours producers must take from the current 15 per two-year license period. That number is set by state law​ and cannot be changed without action by the state legislature and the governor. Instead, the regulation would require producers to include in those 15 hours:At least one hour of courses on…

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