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Record Retention Policy for Businesses: A Strategic Guide to Compliance and Efficiency

Armstrong Archives

No matter the size of a business, a well-defined record retention policy serves multiple purposes: ensuring compliance with legal and regulatory requirements, aiding in efficient document management, and securing sensitive information. First, identify the types of records your business generates and categorize them (e.g.,

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Regulatory Update: NAIC Summer 2021 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Summer 2021 National Meeting (Summer Meeting) August 14-17, 2021. Highlights include, among others, adoption of revised risk-based capital bond factors for life insurers, amendments to SSAP No. NAIC Adopts Revised Risk-Based Capital Bond Factors for Life Insurers.

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NEW TECH: This free tool can help gauge, manage third-party cyber risk; it’s called ‘VRMMM’

The Last Watchdog

Turn the corner into 2019 and we find Citigroup, CapitalOne, Wells Fargo and HSBC Life Insurance among a host of firms hitting the crisis button after their customers’ records turned up on a database of some 24 million financial and banking documents found parked on an Internet-accessible server — without so much as password protection.

Risk 147
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Regulatory Update: NAIC Summer 2020 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Summer 2020 National Meeting (Summer Meeting) from July 27 to August 14, 2020. NAIC Considers Comments to the Group Capital Calculation Template and Instructions and Related Revisions to the Insurance Holding Company Act . GCC Template and Instructions.

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The Good, Bad, And The Ugly: Key Takeaways From California’s New Privacy Law

Privacy and Cybersecurity Law

California law also requires businesses that suffer a breach of security to disclose the breach to consumers, and in some instances law enforcement, if sensitive information is compromised. Consumers will be permitted to request that a business disclose both the categories and specific pieces of the personal information collected.

Privacy 58
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The Good, Bad, And The Ugly: Key Takeaways From California’s New Privacy Law

Privacy and Cybersecurity Law

California law also requires businesses that suffer a breach of security to disclose the breach to consumers, and in some instances law enforcement, if sensitive information is compromised. Consumers will be permitted to request that a business disclose both the categories and specific pieces of the personal information collected.

Privacy 58
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CCPA In-Depth Series: Draft Attorney General Regulations on Consumer Requests

Data Matters

Businesses, consumer advocates, and privacy watchers have thus been eagerly waiting for over a year for the Attorney General to propose the regulations the CCPA requires him to promulgate. As laid out below, the nature and breadth of the Attorney General’s proposed regulations explain why they took so long to produce.

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