Videocast: Asset management regulation in 2020 videocast series – The annuity regulatory landscape
The Intersection of Big Data and Insurance Regulation
InsurTech and the Changing Distribution Model
On May 15, 2024, the Privacy Protections (H) Working Group of the National Association of Insurance Commissioners (“NAIC”) held its first meeting since the Spring National Meeting in March. The working group seeks public...more
For over 100 years, the National Association of Insurance Commissioners (NAIC) has been developing model legislation to encourage uniformity among states for the regulation of insurance products. The NAIC model laws and...more
The first half of 2023 saw a flurry of activity in the privacy and data security spaces. We outline below some of the key developments of interest to the insurance industry....more
On June 5-6, 2023, the NAIC Privacy Protections (H) Working Group (“PPWG”) held an in-person interim meeting (“session”) to continue its work on drafting a new model privacy law, the Insurance Consumer Privacy Protection...more
In April and May, the NAIC Privacy Protections Working Group held the first three of its biweekly calls to discuss its recipe for a new privacy model, “Insurance Consumer Privacy Protection Model Law #674.” During the...more
Kentucky Governor Andy Beshear recently signed House Bill 474 to become the latest state to enact data insurance security legislation. The new law is modeled after the data security law of the National Association of ...more
The NAIC Data Security Model Law (Model 668) continues its journey through the various state legislatures. Whether all 50 states meet the U.S. Treasury-recommended 2022 deadline for adoption of uniform data security...more
The National Association of Insurance Commissioner (NAIC)’s model data security law (“Model Law”) was recently adopted by Maine and North Dakota. This addition brings the total number to states that have joined the NAIC...more
CYBERSECURITY - Cisco/Talos Researchers Find Attackers Using Slack and Discord to Distribute Malware - Another example of the resiliency and creativity of cyber-attackers is outlined in a new blog by Cisco/Talos...more
After a brief hiatus due to COVID-19, the NAIC’s Privacy Working Group returned to work on May 5 discussing comments received on the working group’s markup of the NAIC Insurance Information and Privacy Protection Model Act...more
A constantly evolving framework of laws governing how multinational businesses can contact customers to how nonprofits report business income to how overtime is calculated and paid will influence how companies do business...more
Since July 1, 2019, Delaware, New Hampshire and Connecticut have enacted laws imposing new cybersecurity requirements on insurers. These laws follow similar statutes already operating in at least six other states: Alabama,...more
On August 2, 2019, New Hampshire became the most recent of many states that adopted an Insurance Data Security Law (Senate Bill 194-FN) modeled after the National Association of Insurance Commissioners’ (NAIC) Insurance Data...more
In March 2017, New York’s path breaking cybersecurity law for financial services companies went into effect. Influenced by the New York law (“New York Part 500”), the National Association of Insurance Commissioners adopted an...more
If you are an insurance provider, you are already awash in regulatory quagmires. Now, you can add one more. In fact, if you don’t have a comprehensive data privacy and security plan in place, then you may not be in compliance...more
As reported on Locke Lord’s InsureReinsure blog, the NAIC adopted a model law for the protection of the data and systems used by the insurance industry, and South Carolina became the first state to enact legislation based on...more
Following New York’s lead after the Department of Financial Services (the NYDFS) promulgated its Cybersecurity Regulation, in October 2017 the NAIC adopted its Insurance Data Security Model Law (the NAIC Model) to establish...more
In the movie WallStreet , the character Gordon Gekko famously states that information is the most valuable commodity he knows. These days, the same could be said of data, which can now be bought, sold, and, increasingly,...more
On October 14, 2015, the National Association of Insurance Commissioners’ (NAIC) Cybersecurity Task Force adopted the Cybersecurity Bill of Rights, a document meant to inform consumers of the services they can expect from...more
The National Association of Insurance Commissioners (“NAIC”) continued its efforts to advance cybersecurity in the insurance industry when it recently adopted the Cybersecurity Bill of Rights. The Cybersecurity Bill of Rights...more
The National Association of Insurance Commissioners has announced three initiatives in furtherance of its goal to address cybersecurity issues faced by insurance companies, their state regulators, and consumers, which it...more
While you enjoy what is left of the summer of 2015, we will kick off your week with a few privacy and security bits and bytes....more