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Charles Johnson
27 Jun 2018

On May 3, 2018, South Carolina Governor McMaster signed into law the South Carolina Department of Insurance Data Security Act. The Act intends to protect personal information managed by insurance agencies, brokers, and carriers in South Carolina...

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On May 3, 2018, South Carolina Governor McMaster signed into law the South Carolina Department of Insurance Data Security Act. The Act intends to protect personal information managed by insurance agencies, brokers, and carriers in South Carolina from cybersecurity threats. South Carolina is the first state to implement a comprehensive cybersecurity law covering the insurance industry following 2017’s NAIC Insurance Data Security Model Law.

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Reprinted with Permission from Behind the Counter, a Community Journals Publishing Group

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The risks organizations face from cyber threats are at epidemic levels.  The threats are sophisticated, attack your weakest links (your employees) and are continuing to evolve at an alarming rate.  Here are some of the most effective cyber scams EDTS Cyber sees facing organizations today. 

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In the world of risk…specifically risk mitigation, cyber insurance is the last chapter in your cybersecurity playbook.  Let me explain:  The goal of any security plan is to mitigate (stop or reduce) threats as much as possible.  In a network, that means layered tools (firewall, anti-virus, backups), etc., along with policies, user education and other techniques.  After implementing these active threat stopping and deterring steps, and therefore reducing your threat landscape to the lowest possible point (for your particular business needs), then employ a cybersecurity policy to transfer the remaining risk to an insurance company. 

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