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Data Privacy Data Security NAIC

Fenwick & West LLP

AI in the Insurance Industry: Balancing Innovation and Governance in 2025

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The insurance industry embraced the transformative power of Artificial Intelligence in 2024 and will continue to do so in 2025. According to the surveys conducted by the Big Data and Artificial Intelligence Working Group of...more

Troutman Pepper Locke

Delaware Insurance Commissioner Navarro Issues Bulletin No. 148 Re: Use of Artificial Intelligence Systems in Insurance

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On February 5, Delaware joined 21 jurisdictions who adopted guidance similar to the NAIC Model Bulletin on the Use of Artificial Intelligence (AI) Systems by Insurers in 2024, and four additional jurisdictions have otherwise...more

Faegre Drinker Biddle & Reath LLP

NAIC’s Draft Revisions to Protect Consumer Privacy in Model Law 672

The National Association of Insurance Commissioners’ (NAIC) Privacy Protections (H) Working Group (the “Working Group”) has continued its charge to draft a new or revised model law aimed at standardizing privacy protections...more

Troutman Pepper Locke

NAIC Privacy Protections Working Group Takes First Step on Its New Path ‎Forward

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The Privacy Protections (H) Working Group of the National Association of Insurance Commissioners (“NAIC”) met on Wednesday June 12, 2024, to consider which proposed path forward to pursue as it considers a new NAIC privacy...more

Troutman Pepper Locke

NAIC Privacy Protections Working Group’s Path Forward

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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

Carlton Fields

Racing Ahead: Privacy, Cybersecurity, and AI Heats for the Life Insurance Industry

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Drivers, start your engines. It has been months of high speed for privacy, cybersecurity, and artificial intelligence....more

McGuireWoods LLP

Navigating Cybersecurity and Data Privacy Regulations in the Insurance Industry

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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

Faegre Drinker Biddle & Reath LLP

Insurance Industry: Mid-2023 Privacy and Data Security Updates

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

Eversheds Sutherland (US) LLP

NAIC Report - 2023 Spring National Meeting

The National Association of Insurance Commissioners (NAIC) held its 2023 Spring National Meeting March 21-25 in Louisville, Kentucky. The agenda for this National Meeting was limited, with a number of NAIC working groups...more

Carlton Fields

A New Draft Privacy Model Blooms From the NAIC Privacy Working Group

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On February 1, the NAIC’s Privacy Working Group’s new privacy model germinated. After months of development, the exposure draft, titled “Insurance Consumer Privacy Protection Model Law #674” (Proposed Model), has finally...more

Eversheds Sutherland (US) LLP

NAIC Report - 2022 Summer National Meeting

Innovation, Cybersecurity, and Technology (H) Committee Adopts Request for Modernized Privacy Protections Model Law; Receives Working Group Reports - The Innovation, Cybersecurity, and Technology (H) Committee met on...more

Carlton Fields

When Congress Freezes Up, the NAIC’s Privacy Protections Working Group Lights a Fire

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On November 18, calling frozen federal legislative efforts “an opportunity” for state insurance regulators to “update state privacy protections … and potentially forestall or mitigate the impacts of any preemptive federal...more

Faegre Drinker Biddle & Reath LLP

NAIC Insurance Data Security Model Law (MDL-668) Update

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

Hinshaw & Culbertson - Privacy, Cyber & AI...

Iowa Becomes the Latest State to Adopt the NAIC Model Cybersecurity Law

On April 30, 2021, Iowa Governor Kim Reynolds signed into law the Iowa Insurance Data Security Act, making Iowa the latest state to adopt the National Association of Insurance Commissioner's model cybersecurity law. Effective...more

Akin Gump Strauss Hauer & Feld LLP

Two More States Adopt NAIC Model Data Security Law

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

Eversheds Sutherland (US) LLP

US Cybersecurity and Data Privacy review and update: Looking back on our 2020 articles and planning ahead for 2021

It was a tumultuous year for privacy and cybersecurity, and further uncertainty is all but guaranteed. The key to navigating this volatility, as 2020 proved, is to develop and maintain a proactive, agile and holistic data...more

Akin Gump Strauss Hauer & Feld LLP

Additional States Adopt Cybersecurity Requirements for Insurance Companies

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

Troutman Pepper Locke

New Hampshire Takes the NAIC Plunge

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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

Alston & Bird

New York, Model Cybersecurity Law Influence Other States

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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

Amundsen Davis LLC

Insurance Companies Take Note: Another Compliance Concern For Your Cybersecurity “To Do” List

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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

BakerHostetler

Insurance Data Security Model Law Picks Up Steam

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Three states recently enacted variations of the National Association of Insurance Commissioner’s (NAIC) Insurance Data Security Model Law (MDL-668), based on the landmark cybersecurity requirements issued by the New York...more

Troutman Pepper Locke

South Carolina Department Clarifies Confusing Change in Its New Insurance Data Security Act

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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

Carlton Fields

Ninety-Nine Problems but a Breach Ain’t One: Cybersecurity Lessons for Insurers

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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

Foley & Lardner LLP

NAIC Cybersecurity Task Force Adopts Cybersecurity Bill of Rights

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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

BakerHostetler

NAIC Adopts Cybersecurity Bill of Rights

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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

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