Photo by Beate Vogl on Pexels.com In April, PIA sent a letter to Representatives Brett Guthrie (R-KY) and John Joyce (R-PA), the chairman and vice-chairman of the House Energy and Commerce Committee, in response to their Request for Information (RFI) to explore the development of a federal data privacy and security framework. Earlier this year, the two established …
Continue reading PIA to Congress: Let States Regulate Insurance Data Privacy
Over the past several weeks, both Congress and the National Association of Insurance Commissioners (NAIC) have turned their attention back to data privacy. Congressional Data Privacy Activity In May, the Innovation, Data, and Commerce Subcommittee of the House Energy and Commerce (E&C) Committee marked up a discussion draft of the American Privacy Rights Act (APRA) …
Continue reading PIA Engages with NAIC and Congress on Data Privacy
As you may know, the National Association of Insurance Commissioners (NAIC) has been working to modernize its consumer privacy protection regulatory framework, which forms the foundation of all states’ insurance consumer protection regimes. The NAIC’s Privacy Protections Working Group (PPWG) is in the process of drafting a single new model, the Insurance Consumer Privacy Protection …
Continue reading NAIC Consumer Privacy Protection Model Development Faces New Obstacles
A report issued yesterday by the Federal Insurance Office (FIO) has concluded that state insurance regulators should more aggressively address climate-related risks. The FIO, which is housed within the Treasury Department, produced the report in response to an Executive Order (EO) on Climate-Related Financial Risk, which was issued by the Biden administration in early 2021. …
Continue reading FIO Climate Report: NAIC, State Insurance Depts Must Address Climate Risk
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 …
Continue reading PIA Asks NAIC to Revise Consumer Privacy Model to Address Independent Agent Needs
Earlier this year, the Federal Trade Commission (FTC) issued a notice of proposed rulemaking (NPRM) that would ban the use of non-compete provisions and non-compete agreements between employers and workers. The NPRM invited members of the public to comment during a 60-day period, which ended on March 20. Independent agency owners are among millions of insurance-related businesses that rely …
Continue reading PIA to FTC: Independent Agencies Need Non-Competes
After months of campaigning, the midterm congressional and state elections concluded yesterday. At the federal level, all 435 House seats and 35 of the 100 Senate seats were up for grabs, with the outcome to determine who will control Congress for the next two years. At the time of this posting on Wednesday morning, the …
Continue reading Outcomes of Key Races Remain Unclear, House and Senate Majorities Uncertain
The National Association of Insurance Commissioners’ (NAIC) Executive Committee has adopted language that would allow for some types of “rebates” to be offered to consumers, unanimously approving amendments to Section 4(H) (“Rebating”) of the NAIC Unfair Trade Practices Act (Model #880) (UTPA). The revised language permits insurers or producers to “[o]ffer or give non-cash gifts, …
Continue reading NAIC Adopts Rebating Changes to Unfair Trade Practices Model
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 …
Continue reading Commissioner Spotlight: South Carolina Director Ray Farmer
State interpretation and application of anti-rebating laws varies, and, about a year ago, those variations prompted the National Association of Insurance Commissioners’ (NAIC) Innovation and Technology Task Force, led by Commissioner Jon Godfread (ND), to further investigate the section of the Unfair Trade Practices Act (Model #880) that addresses rebating. Prompted by that investigation, the Task Force tasked a …
