With the California Consumer Privacy Act of 2018 (CCPA) having
taken effect on January 1, 2020, the privacy and data security
landscape for insurance carriers, producers and insurtech
(collectively, "insurers") continues to grow more
complex. A number of states have also recently passed laws
regulating data security in the insurance industry, with the first
transition period under a number of these laws set to end in 2020.
Given the significant amount of sensitive personal information that
insurers collect, process and retain, this trend of increased
privacy and data security regulation within the insurance industry
is likely to continue. To stay ahead of these new privacy and data
security requirements, insurers need to take steps now to navigate
the increasingly complex regulatory landscape.
