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To date, six states from Michigan to Alabama have adopted versions of the National Association of Insurance Commissioner’s model insurance data security law (the “NAIC model”).  The NAIC model generally requires entities licensed or authorized to operate under a state’s insurance laws to develop a cybersecurity program, investigate and report data breaches, and certify compliance with the law to the state’s insurance commissioner.  Connecticut joined the growing list of states that have adopted a version of the NAIC model, buried in a budget bill, when Governor Ned Lamont signed Public Act 19-117 (the “Act”), on June 26, 2019, effective in relevant part on October 1, 2020.
Read More Connecticut Adopts Insurance Data Security Law

On July 23, the Financial Services Superintendent Linda A. Lacewell announced the establishment of the New York State Department of Financial Services (“NYDFS”) Research and Innovation Division (the “Division”). Superintendent Lacewell stated, “this new division…position[s] DFS as the regulator of the future, allowing the Department to better protect consumers, develop best practices, and analyze market data to strengthen New York’s standing as the center of financial innovation.”…
Read More New York DFS Announces New Research and Innovation Division

On Monday, the ‘‘Clarifying Law Around Insurance of Marijuana Act’’ or ‘‘CLAIM Act” was introduced before the United States Senate by Sen. Menendez (D-N.J.). The CLAIM Act, which is cosponsored by Sens. Paul (R-Ky.), Merkley (D-Ore.) and Cramer (R-N.D.), would prohibit a federal agency from (i) penalizing or otherwise discouraging insurers from engaging in the business of insurance with a cannabis-related business, or (ii) otherwise terminating or cancelling the policies of an insurer solely because the insurer engaged in the business of insurance in connection with a cannabis-related business.
Read More Senate to Consider Legislation To Allow Cannabis Businesses to Purchase P&C and Title Insurance

On June 17, the New York State Assembly passed the Stop Hacks and Improve Electronic Data Security Act, commonly referred to as the SHIELD Act which will be enforced by the New York Attorney General. This SHIELD Act should not be confused with Marvel’s Strategic Homeland Intervention Enforcement and Logistics Division also called S.H.I.E.L.D. The SHIELD Act is awaiting the governor’s signature to become law.
Read More New York Jumps on the Data Security Bandwagon

On January 10, 2019, Massachusetts Governor Charlie Baker signed House Bill No. 4806 into law.  The bill amends certain provisions of the state data breach notification law, increasing reporting requirements on a person or agency collecting personal information of Massachusetts residents.
Read More Updates to Massachusetts Data Breach Laws: House Bill No. 4806