WIN Magazine - Fall 2017 - 26

FEATURE

9-MINUTE READING TIME

MODEL LEGISLATION

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A guide to implementing the NAIC cybersecurity
model law for insurers and brokers
by JOSHUA MOONEY AND LAURA SCHMIDT

O

N OCT. 24, 2017, THE
National Association of
Insurance Commissioners (NAIC) passed
its Insurance Data
Security Model Law,
intended to serve as model legislation
for states to enact in order to govern
cybersecurity and data protection practices of insurers, insurance agents and
other licensed entities registered under
state insurance laws (defined therein
as licensees).

26 | F A L L 2 0 17 | W I N M A G A Z I N E

The model law applies to licensees
that handle, process, store or transmit
"nonpublic Information." (Insurers that
are acting as an assuming insurer domiciled in another state or jurisdiction and
purchasing groups or risk retention
groups that are licensed and chartered
in another state are not licensees.) The
definition for nonpublic information
(NPI) is broader than state laws that
typically focus on personally identifiable information (PII) and closely follows
the meaning of nonpublic information

under the New  York Department of
Financial Service's (NYDFS) recently
enacted cybersecurity regulations,
23  NYCRR §  500.00 et  seq. (NYDFS
cyber regulations). NPI under the model
law includes:
* business-related information of the
licensee that, if tampered with or disclosed, would have a material adverse
impact on the licensee's business,
operations or security;
* information concerning a consumer
that, because of an identifier in



Table of Contents for the Digital Edition of WIN Magazine - Fall 2017

Do Hurricanes Have a Silver Lining?
Underwriting Marijuana
The Cyber Insurance Conundrum
Writing Data Security Into Law
Gauging Risk, Reaping Reward
Simply Seamless
Moving to the Cloud: 3 Migration Strategy Models and the 6 R’s.
In the WIN-NER’s Circle
WIN Magazine - Fall 2017 - Intro
WIN Magazine - Fall 2017 - bellyband1
WIN Magazine - Fall 2017 - bellyband2
WIN Magazine - Fall 2017 - cover1
WIN Magazine - Fall 2017 - cover2
WIN Magazine - Fall 2017 - 3
WIN Magazine - Fall 2017 - 4
WIN Magazine - Fall 2017 - 5
WIN Magazine - Fall 2017 - 6
WIN Magazine - Fall 2017 - 7
WIN Magazine - Fall 2017 - 8
WIN Magazine - Fall 2017 - 9
WIN Magazine - Fall 2017 - 10
WIN Magazine - Fall 2017 - 11
WIN Magazine - Fall 2017 - Do Hurricanes Have a Silver Lining?
WIN Magazine - Fall 2017 - 13
WIN Magazine - Fall 2017 - 14
WIN Magazine - Fall 2017 - 15
WIN Magazine - Fall 2017 - 16
WIN Magazine - Fall 2017 - Underwriting Marijuana
WIN Magazine - Fall 2017 - 18
WIN Magazine - Fall 2017 - 19
WIN Magazine - Fall 2017 - 20
WIN Magazine - Fall 2017 - 21
WIN Magazine - Fall 2017 - 22
WIN Magazine - Fall 2017 - 23
WIN Magazine - Fall 2017 - The Cyber Insurance Conundrum
WIN Magazine - Fall 2017 - 25
WIN Magazine - Fall 2017 - Writing Data Security Into Law
WIN Magazine - Fall 2017 - 27
WIN Magazine - Fall 2017 - 28
WIN Magazine - Fall 2017 - 29
WIN Magazine - Fall 2017 - 30
WIN Magazine - Fall 2017 - Gauging Risk, Reaping Reward
WIN Magazine - Fall 2017 - 32
WIN Magazine - Fall 2017 - 33
WIN Magazine - Fall 2017 - 34
WIN Magazine - Fall 2017 - 35
WIN Magazine - Fall 2017 - Simply Seamless
WIN Magazine - Fall 2017 - 37
WIN Magazine - Fall 2017 - Moving to the Cloud: 3 Migration Strategy Models and the 6 R’s.
WIN Magazine - Fall 2017 - 39
WIN Magazine - Fall 2017 - In the WIN-NER’s Circle
WIN Magazine - Fall 2017 - 41
WIN Magazine - Fall 2017 - 42
WIN Magazine - Fall 2017 - cover3
WIN Magazine - Fall 2017 - cover4
WIN Magazine - Fall 2017 - outsert1
WIN Magazine - Fall 2017 - outsert2
WIN Magazine - Fall 2017 - outsert3
WIN Magazine - Fall 2017 - outsert4
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