March 16, 2009
The Ohio Department of Insurance has dropped a proposed regulation regarding security breach notification in favor of a draft bulletin. Comments on the proposed bulletin are due to the department by March 25.
NAMIC and other industry advocates met with ODI and expressed concerns regarding the department’s authority to promulgate such a regulation as well as concerns regarding the necessity of such a regulation.
The purpose of the draft bulletin is to require insurers to report any “breach of personal security information” to the ODI within 15 calendar days of discovery of the breach.
If you have comments on the proposed bulletin that you would like NAMIC to share with ODI, please get them to us by March 24.
NAMIC continues to coordinate advocacy on this topic with the Ohio Insurance Institute and the Ohio Association of Life Insurance Companies.
Direct questions to NAMIC Director of State Affairs Joe Thesing.