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Navigating Data Privacy and Cybersecurity Risks for ERISA-Regulated Plans: Key Issues for Plan Sponsors and Administrators

Recording of a 90-minute premium CLE video webinar with Q&A

This program is included with the Strafford CLE Pass. Click for more information.
This program is included with the Strafford All-Access Pass. Click for more information.

Conducted on Thursday, October 10, 2024

Recorded event now available

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This CLE webinar will provide guidance to employee benefits counsel on managing data privacy and cybersecurity risks for ERISA healthcare and retirement plans, lessons from recent data breaches, ERISA fiduciary obligations, ERISA preemption of state data breach laws, and contractual risk mitigation with third-party administrators (TPAs).

Description

Data breach prevention and response is an increasingly serious issue for many industries. Recent data breaches have affected employers and health plans nationwide, confirming that health plans and insurers are not immune. Plan sponsors and fiduciaries must take great care to comply with complex regulations that differ based on the type of plan involved.

ERISA counsel and fiduciaries need a complete understanding of applicable regulations to maintain data privacy.

Unlike the liability for breaches of healthcare plans where the standards and liability are more certain (e.g., HIPAA), the standards and liability under ERISA for retirement benefits plans are inconclusive. While regulatory guidance to ERISA administrators and fiduciaries regarding data breaches is scarce, the DOL provided limited guidance on cybersecurity risks.

Listen as our esteemed panel provides guidance to benefits counsel on trends in data breaches of ERISA healthcare and retirement plans. The panel will review recent cases, discuss the scope of fiduciary obligations to prevent breaches, address ERISA preemption of state data breach laws, and outline contractual risk mitigation with TPAs.

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Outline

  1. Trends in ERISA data breaches: healthcare and retirement plans
  2. Lessons from recent litigation
  3. ERISA fiduciary obligations with respect to data breaches
  4. Trends in ERISA preemption litigation and what it portends for preemption of state data breach laws
  5. Incorporating cybersecurity protections into retirement plan contracts with TPAs

Benefits

The panel will review these and other key issues:

  • What specific obligations do plan sponsors and fiduciaries have when responding to a data breach occurrence?
  • How can plan sponsors manage their breach response to safeguard plan data, achieve an effective response, and reduce the risk of legal and regulatory action?
  • What lessons can be learned from recent litigation and breaches of retirement plan employee information?
  • How can cybersecurity protections be incorporated into retirement plan contracts with TPAs?

Faculty

Davidson, Doug
Doug Davidson, CISA

Director of Information Technology Services
GBQ Partners

Mr. Davidson joined GBQ in 2016, bringing 30 years of experience working with technology and technology leadership in...  |  Read More

Jara, Jose
José M. Jara

Counsel
Fox Rothschild

Mr. Jara has over 20 years of ERISA and employee benefits experience, ranging from governmental compliance, fiduciary...  |  Read More

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