On June 26, Gov. Lamont signed into law Connecticut's new
Insurance Data Security Law (IDSL), implementing a new regime of
information risk management and event reporting requirements for
insurance "licensees." When effective, IDSL will affect
the operations of all carriers, producers and other businesses
licensed by the Connecticut Insurance Department (CID), but the
impact will vary depending on an entity's size, sophistication,
volume of nonpublic data, sensitivity of data and reliance on
third-party vendors. This alert provides a summary of what
Connecticut licensees need to know.
IDSL's effective date was originally slated for this fall
but was postponed until October 1, 2020, through a
subsequent piece of legislation, P.A. 19-196, which deals with insurance law
technical changes.
