GEICO and Travelers have agreed to pay a combined total of $11.3 million in fines due to inadequate data security practices that compromised the personal information of over 120,000 residents in New York. This settlement highlights ongoing concerns regarding cybersecurity within the insurance sector. In a separate incident, the SEC has settled charges with ICBC Financial Services, a U.S. unit of the state-owned Industrial and Commercial Bank of China, following a ransomware attack in November 2023. Notably, the SEC has opted not to impose any fines on ICBC despite the breach, although the company's response to the incident is still under scrutiny.