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Two States Enact Insurance Data Security Laws

Hunton Privacy

In April 2022, two states enacted insurance data security legislation based on the National Association of Insurance Commissioners (“NAIC”) Insurance Data Security Model Law (MDL-668). Kentucky’s law goes into effect on January 1, 2023. Kentucky’s law goes into effect on January 1, 2023.

Insurance 110
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What Is Information Security Management?

IT Governance

Information security management is a way of protecting an organisation’s sensitive data from threats and vulnerabilities. The process is typically embedded via an ISMS (information security management system) , which provides the framework for managing information security. Improve company culture.

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Why Cyber Insurance is Essential in 2022

IT Governance

One of the most common ways to mitigate the risk of a cyber security incident is cyber insurance. These activities aren’t typically included in standard business insurance policies, which tend to only cover costs related to technical issues, such as corrupted hard drives and lost devices. The benefits of cyber insurance.

Insurance 137
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Vermont Enacts Insurance Data Security Law

Hunton Privacy

515 , making Vermont the twenty-first state to enact legislation based on the National Association of Insurance Commissioners Insurance Data Security Model Law (“MDL-668”). Information Security Program Requirements. On May 27, 2022, Vermont Governor Phil Scott signed H.515

Insurance 107
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NAIC Insurance Data Security Law Annual Certifications: Is Yours Due By February 15?

Data Matters

The National Association of Insurance Commissioners’ (NAIC) Insurance Data Security Model Law has been adopted in at least 11 states, with several others (including New York) having implemented either older or similar laws or administrative guidance. appeared first on Data Matters Privacy Blog. See MCL § 500.555(9).).

Insurance 114
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Security Compliance & Data Privacy Regulations

eSecurity Planet

Regulatory compliance and data privacy issues have long been an IT security nightmare. GDPR, the EU’s flagship data privacy and “right to be forgotten” regulation, has made the stakes of a data breach higher than ever. GDPR-style data privacy laws came to the U.S. Healthcare Data Privacy Laws.

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Australian Privacy Regulator Sues in Data Breach Case

Hunton Privacy

The Australian legislature increased maximum penalties for ‘serious’ contraventions of the Privacy Act with effect from December 2022 to at least A$50 million. If made out, this would be a breach of Australian Privacy Principle 11.1. However, the maximum penalty available in this case will be A$2.2 Class actions.