On March 2, 2016, the National Association of Insurance Commissioners’ (NAIC) Cybersecurity Task Force proposed a comprehensive Model Law that is intended “to establish the exclusive standards for data security and investigation and notification of a breach of data security” for licensed insurance companies. The proposed Model Law would apply to all insurers, producers “and other persons licensed or required to be licensed, or authorized or required to be authorized, or registered or required to be registered pursuant to the Insurance Law” of the state that adopts the Model Law.
