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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
Step right up as we discuss some of 2023’s most notable cybersecurity and privacy regulatory and litigation developments and tips for keeping your program flying high. Regulatory Activity New regulatory requirements now in...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
The first half of 2022 brought plenty of activity in the data privacy and cybersecurity space, much of which is applicable to or of interest to the insurance industry. We outline some of this activity below. Revisions to...more
Vermont Governor Scott signed the Vermont Insurance Data Security Law (available here) (the “VIDSL”), becoming the 22nd state to adopt a cybersecurity statute based on the National Association of Insurance Commissioners...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
In this month's edition of our Privacy & Cybersecurity Update, we take a look at guidance on artificial intelligence released by the U.K. Information Commissioner's Office and the Turing Institute, as well as guidance...more
In this month's edition of our Privacy & Cybersecurity Update, we examine the European Parliament's report on whether and how the use of blockchain technology can comply with the General Data Protection Regulation, as well as...more
New Hampshire recently passed its Insurance Data Security Law based on the National Association of Insurance Commissioner’s (NAIC) Insurance Data Security Model Law. The law will go into effect January 1, 2020....more
On March 1, 2017 the cybersecurity regulation of the New York Department of Financial Services (the DFS Regulation) took effect, requiring subject financial institutions (Covered Entities), including insurance companies, to,...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
Delaware (July 31, 2019) and New Hampshire (August 2, 2019) have become the latest states to add to the insurance cybersecurity landscape by enacting information security laws. These laws come on the heels of Connecticut’s...more
To date, six states from Michigan to Alabama have adopted versions of the National Association of Insurance Commissioner’s model insurance data security law (the “NAIC model”). The NAIC model generally requires entities...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
On March 1, 2017 the cybersecurity regulation of the New York Department of Financial Services (the “DFS Regulation”) took effect, requiring subject financial institutions, including insurance companies, (“Covered Entities”)...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
The New York Department of Financial Services (NYDFS) blazed a cybersecurity trail with its 2017 regulation for the protection of information collected and processed in, and systems used in the operation of, the financial...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
On May 3, Governor Henry McMaster signed the South Carolina Insurance Data Security Act, making South Carolina the first state to adopt the NAIC Insurance Data Security Model Law....more
South Carolina has become the first state to enact a version of the Insurance Data Security Model Law, which was drafted by the National Association of Insurance Commissioners (NAIC) in 2017. Governor Henry McMaster signed...more
The NAIC adopted an Insurance Data Security Model Law. On May 3, 2018, the South Carolina Governor made South Carolina the first state in the nation to adopt a comprehensive cybersecurity statute for the insurance industry,...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
The financial services industry has been dealing with requirements for cybersecurity since 1999, but 2017 brought new, significant, and proliferating obligations. The bar for the whole industry was clearly raised by the...more
The National Association of Insurance Commissioners (NAIC) has approved its draft of the Insurance Data Security Model Law (Model Law) via a meeting of its Executive and Plenary Committees. This important development follows...more