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
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
Our latest briefing explores the recent FTC commercial surveillance and data security forum (including discussion on widespread use of AI and algorithms in advertising), California’s inquiry into potentially discriminatory...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
On July 15, 2021, Wisconsin Governor Tony Evers signed Act 73 (Act) into law, making Wisconsin the latest state to adopt the National Association of Insurance Commissioner's (NAIC) model cybersecurity law. Most recently, Iowa...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
Maine has become the latest state to adopt a version of the National Association of Insurance Commissioners (NAIC) model cybersecurity law. Signed into law on March 17, 2021, the Maine Insurance Data Security Act establishes...more
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
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 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
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
Ohio is the second state in the country to adopt cybersecurity legislation modeled after the National Association of Insurance Commissioner’s (NAIC) Insurance Data Security Model Law. ...more
Michigan enacted the Michigan Data Security Act on December 28, 2018, imposing stringent cybersecurity measures on any person (individual or corporate) licensed by the Michigan Department of Insurance and Financial Services. ...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
As reported, 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 the NAIC model. In doing so,...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
They seem to come earlier every year, don’t they? Grab your seasonally spiced latte and huddle around the bonfire to read the final version of the Insurance Data Security Model Law (Data Security Model) adopted by the...more
Insurers and organizations regulated by state insurance departments need to be prepared to meet the requirements of the model data security law, which may be finalized this year. In late 2014, the National Association of...more
The National Association of Insurance Commissioners (NAIC) Cybersecurity (EX) Working Group (Cybersecurity WG) approved Version 6 (Finalized) of its Insurance Data Security Model Law (Model) on August 7 at the NAIC Summer...more
The National Association of Insurance Commissioners (NAIC) Cybersecurity (EX) Task Force has received significant industry comments regarding its revised draft Insurance Data Security Model Law issued August 17, 2016 (the...more