February 2023

REGULATORY DEVELOPMENTS

NAIC Releases Draft Model Law for Insurance

On February 1 the NAIC Privacy Protections Working Group released a draft of a new model law (Model Law #674). This Draft Model Law seeks to establish standards for the collection, processing, retaining, and sharing of consumers’ personal information by licensees. It also sets forth standards for additional permitted transactions involving consumers’ personal information as well as standards governing licensees’ collection, processing, retention, and sharing of personal information.

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