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In the News Press Release

4 Key Battles To Watch Over NAIC's Cyber Model Law

Publisher: Law360
August 30, 2016

Bill Goddard was quoted in an article, "4 Key Battles To Watch Over NAIC's Cyber Model Law," in Law360. The article is about the National Association of Insurance Commissioners draft of a model law outlining how insurers must safeguard consumers' information and respond in the event of a data breach. The first draft, which was released in March, drew such intense criticism from the industry that a second draft was issued in late August. "The new draft gave insurers some relief by doing away with a single information security standard and allowing size and complexity to be taken into account," said Goddard. Goddard added that, even after the revisions, insurers have still been left wondering about the scope of the information that they must protect, how they must notify consumers about the type of data they collect and how the requirements of the model law will be harmonized with existing privacy laws in the states.