Skip to Content

Spring Cleaning on the NAIC Model Privacy Laws
April 13, 2020
Recognizing that the NAIC’s model consumer data privacy laws have not been revised since 2017, the NAIC Privacy Protections Working Group (Privacy WG) is dusting off the NAIC Insurance Information and Privacy Protection Model Act (Model 670) and the Privacy of Consumer Financial and Health Information Regulation (Model 672). The Privacy WG is charged with recommending whether, and to what extent, freshening up is needed to these models. The Privacy WG will turn to health care privacy later.

Because there have been many technological developments since 2017, a regulator-only work group was formed to identify key issues across five subjects for comment, including:

  1. Types of data collection, sharing, and usage specific to insurers;
  2. How privacy risk affects insurance consumers;
  3. Gaps in federal and state law;
  4. Obligations insurers should have to consumers; and
  5. What rights consumers should have to control their personal information.

The regulator-only work group will consider Model 670 and Model 672 alongside proposed federal legislation, the European Union’s General Data Protection Regulation, the California Consumer Privacy Act, and the NAIC’s data security model law. It will also work closely with the NAIC’s Artificial Intelligence and Accelerated Underwriting working groups.

Insurers using consumer information should be aware that the inevitable revisions to Model 670 and Model 672 could require them to freshen up their policies and procedures.
Authored By
Image: Ann Young Black
Ann Young Black
Image: Patricia M. Carreiro
Patricia M. Carreiro
Related Practices
Financial Services Regulatory
Related Industries
Life, Annuity, and Retirement Solutions Securities & Investment Companies
©2024 Carlton Fields, P.A. Carlton Fields practices law in California through Carlton Fields, LLP. Carlton Fields publications should not be construed as legal advice on any specific facts or circumstances. The contents are intended for general information and educational purposes only, and should not be relied on as if it were advice about a particular fact situation. The distribution of this publication is not intended to create, and receipt of it does not constitute, an attorney-client relationship with Carlton Fields. This publication may not be quoted or referred to in any other publication or proceeding without the prior written consent of the firm, to be given or withheld at our discretion. To request reprint permission for any of our publications, please use our Contact Us form via the link below. The views set forth herein are the personal views of the author and do not necessarily reflect those of the firm. This site may contain hypertext links to information created and maintained by other entities. Carlton Fields does not control or guarantee the accuracy or completeness of this outside information, nor is the inclusion of a link to be intended as an endorsement of those outside sites.

Disclaimer

The information on this website is presented as a service for our clients and Internet users and is not intended to be legal advice, nor should you consider it as such. Although we welcome your inquiries, please keep in mind that merely contacting us will not establish an attorney-client relationship between us. Consequently, you should not convey any confidential information to us until a formal attorney-client relationship has been established. Please remember that electronic correspondence on the internet is not secure and that you should not include sensitive or confidential information in messages. With that in mind, we look forward to hearing from you.