Insurance Regulators Fine Tuning Cybersecurity Guidance

You may not realize how much personal information your insurance company has about you. Scarier still is that much of this data is sensitive and valuable to hackers – such as your Social Security number, financial information, medical history, even itemized schedules of your most expensive personal property. As data breaches affecting insurers have piled up in the past couple of years (Anthem, Premera Blue Cross and Blue Shield, Excellus Health Plan, UCLA Health System just to name a few), so too have calls for stronger data security protections applicable to insurance data. In response, the CyberSecurity Task Force of the National Association of Insurance Commissioners ("NAIC"), the standard-setting organization in the U.S. insurance industry created and governed by the chief insurance regulators from the 50 states, the District of Columbia, and five U.S. territories ("Task Force") is racing to finish its Insurance Data Security Model Law ("Model Law" or "Law") by the