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Privacy and Data Security: 2020 Considerations for the Insurance Industry

With the California Consumer Privacy Act of 2018 (CCPA) having taken effect on January 1, 2020, the privacy and data security landscape for insurance carriers, producers and insurtech (collectively, “insurers”) continues to grow more complex. A number of states have also recently passed laws regulating data security in the insurance industry, with the first transition period under a number of these laws set to end in 2020. Given the significant amount of sensitive personal information that insurers collect, process and retain, this trend of increased privacy and data security regulation within the insurance industry is likely to continue. To stay ahead of these new privacy and data security requirements, insurers need to take steps now to navigate the increasingly complex regulatory landscape. How Does the CCPA Impact Insurers? On January 1, 2020, California became the first state in the United States to enact comprehensive privacy legislation that governs...

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Trendy “Cybersecurity” Versus Traditional “Information Security” Two Sides of the Same Security Coin

Cybersecurity has become a dominant topic of the day.  The Snowden revelations, the mega-data breaches of 2013, the pervasiveness of invisible online “tracking” and the proliferation of “ data broker” trading in personal data – all feed into the fears of individuals who struggle to understand how their personal information is collected, used and protected.  Over the past year, these forces have begun to merge an old concern by individuals about the security of their personal information into a broader, more universal fear that the country’s infrastructure lay vulnerable. In many respects, however, the concept of cybersecurity is not new.  Cybersecurity is a form of information security, albeit perhaps with a broader, more universal view of required security controls.  Decades-old statutes include information security requirements for certain types of information, the Health Insurance Portability and Accountability Act (HIPAA) addresses health information and...

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