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GEICO, Travelers fined $11.3 million by New York for cybersecurity lapses

( November 25, 2024, 17:11 GMT | Official Statement) -- MLex Summary: GEICO will pay $9.75 million in penalties, while Travelers will pay $1.55 million in settle allegations filed by New York Attorney General Letitia James and the New York Department of Financial Services "for having poor data security which led to the personal information of more than 120,000 New Yorkers being compromised" by cyberattacks. "The DFS investigation concluded that the auto insurance companies did not comply with DFS’s cybersecurity regulation that requires them to implement policies, procedures, and controls designed to protect consumer data and the financial institutions themselves," the regulator said.Text of DFS statement follows in full. See attached complaints....

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