Tag: data security

PIA Asks NAIC to Revise Consumer Privacy Model to Address Independent Agent Needs

On By Lauren Pachman, Counsel & Director of Regulatory Affairs

Data breaches have increasingly affected every industry that collects consumer nonpublic personal information (NPI). Insurance consumers’ data has been subjected to breaches, too, even though sensitive health information is specially protected by safeguards set forth in the Health Insurance Portability Accountability Act (HIPAA), and other insurance data is protected by the Gramm-Leach-Bliley Act (GLBA) of 1999. Insurance agents and brokers …

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Data Privacy Bill Approved by Committee Along Party Lines

On By Jon Gentile, Vice President, Government Relations

The House Financial Services Committee passed the Data Privacy Act in a partisan vote of 26-21 on the evening of February 28 after lengthy debate. The bill would revise existing federal standards created by the 1999 Gramm-Leach-Bliley Act (GLBA) that protect consumer data by expanding the requirements imposed on “financial institutions,” including independent insurance agencies, …

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House Data Privacy Bill Would Preempt State Law

On By Jon Gentile, Vice President, Government Relations

After holding a hearing on the subject earlier this month, House Financial Services Committee Chairman Patrick McHenry (R-NC) is set to bring his bill, the Data Privacy Act of 2023, to the full committee for a markup tomorrow, Tuesday, February 28. The bill seeks to revise existing federal standards created by the 1999 Gramm-Leach-Bliley Act …

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House Subcommittee Holds Hearing on Federal Data Privacy Bill

On By Jon Gentile, Vice President, Government Relations

The House Financial Services Committee’s Subcommittee on Financial Institutions and Monetary Policy held a hearing today entitled, “Revamping and Revitalizing Banking in the 21st Century.” One of the bills discussed during the hearing, the Financial Data Privacy Act, seeks to revise existing federal standards for consumer data privacy by expanding the requirements associated with the …

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NAIC Fall National Meeting Wrap-Up

On By Lauren Pachman, Counsel & Director of Regulatory Affairs

Last month, the National Association of Insurance Commissioners (NAIC) held its Fall National Meeting. Here is a synopsis of the most notable aspects of the meeting. Creation of New “Letter” Committee First, some background on the NAIC’s structure may be helpful. The NAIC places its committees at the top, with subgroups, working groups, and task …

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Commissioner Spotlight: South Carolina Director Ray Farmer

On By Lauren Pachman, Counsel & Director of Regulatory Affairs

In the latest entry in our Commissioner Spotlight series, we are focusing on the head of the South Carolina Department of Insurance (SCDOI), Director Ray Farmer. Dir. Farmer served as vice president of the American Insurance Association (AIA, now APCIA), a trade association for insurance carriers. He spent the early part of his regulatory career as …

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States Enact Data Security Measures: New Hampshire

On By Lauren Pachman, Counsel & Director of Regulatory AffairsLeave a comment

The National Association of Insurance Commissioners (NAIC) Insurance Data Security Model Law (MDL-668) was finalized in October 2017 and subsequently passed in South Carolina, Ohio, Michigan, Mississippi, Alabama, Delaware, and New Hampshire. The NAIC’s 2017 passage of its model law set the stage for several state legislatures to include it on their legislative calendars beginning in 2018 …

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States Enact Data Security Measures: Delaware

On By Lauren Pachman, Counsel & Director of Regulatory AffairsLeave a comment

The National Association of Insurance Commissioners (NAIC) Insurance Data Security Model Law (MDL-668) was finalized in October 2017 and subsequently passed in South Carolina, Ohio, Michigan, Mississippi, Alabama, Delaware, and New Hampshire. Moreover, the NAIC model borrowed heavily from the New York Department of Financial Services Cybersecurity Regulation (23 N.Y.C.R.R. Part 500). The NAIC’s 2017 passage of …

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States Enact Data Security Measures: Alabama

On By Lauren Pachman, Counsel & Director of Regulatory AffairsLeave a comment

The National Association of Insurance Commissioners (NAIC) Insurance Data Security Model Law (MDL-668) was finalized in October 2017 and subsequently passed in South Carolina, Ohio, Michigan, Mississippi, and Alabama. Moreover, the NAIC model borrowed heavily from the New York Department of Financial Services Cybersecurity Regulation (23 N.Y.C.R.R. Part 500). The NAIC’s 2017 passage of its model law …

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States Enact Data Security Measures: Michigan and Mississippi

On By Lauren Pachman, Counsel & Director of Regulatory AffairsLeave a comment

The National Association of Insurance Commissioners (NAIC) Insurance Data Security Model Law (MDL-668) was finalized in October 2017 and subsequently passed in South Carolina, Ohio, Michigan, and Mississippi. Moreover, the NAIC model borrowed heavily from the New York Department of Financial Services Cybersecurity Regulation (23 N.Y.C.R.R. Part 500). The NAIC’s 2017 passage of MDL-668 set the stage …

Continue reading States Enact Data Security Measures: Michigan and Mississippi