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ARTICLE · 30 NOVEMBER 2017

NAIC Adopts Insurance Data Security Model Law

Wilson Elser Moskowitz Edelman & Dicker LLP
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On October 24, 2017, the National Association of Insurance Commissioners (NAIC) adopted the Insurance Data Security Model Law.

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On October 24, 2017, the National Association of Insurance Commissioners (NAIC) adopted the Insurance Data Security Model Law. The NAIC is the U.S. standards-setting and regulatory support organization created and governed by the insurance regulators of all 50 states, the District of Columbia and five U.S. territories. The Model Law seeks to govern the data security and standards of insurers, insurance agents and brokers, and other entities regulated by state insurance departments. As the Model Law is intended to serve as model legislation only, states will need to enact it into law for it to become mandatory and enforceable against insurance licensees.

Key components of the Model Law include requirements for:

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