NADP Knowledge Center
NAIC Model Cybersecurity regulation and Impacts to Dental Carriers (2018)
Recorded On: 08/28/2018
In October of 2017, the National Association of Insurance Commissioners (NAIC) voted to adopt the Insurance Data Security Model Law (Cyber Model Law). The law, which establishes standards for data security and the investigation and notification of cybersecurity events in the insurance industry, will become effective as it’s adopted by individual states (South Carolina was the first state to do so).
The Cyber Model Law requires all licensees regulated by U.S. state insurance departments to design and implement an information security program, commensurate with the size and complexity of the organization, that will protect against any threats or hazards to the security, integrity, or confidentiality of nonpublic information or systems to minimize the likelihood of harm to any consumer. Protiviti’s Adam Hamm will walk us through this important new model law, its similarities to New York’s cybersecurity regulations (Part 500), and its impacts to dental carriers.
Managing Director, Protiviti
Adam is a managing director with a global consulting firm, Protiviti, which serves clients in financial services and other industries by providing advisory for risk, compliance, governance and cybersecurity matters.
He has deep knowledge of financial services regulation with hands on experience in all insurance supervision and policy-related matters. Prior to joining Protiviti in January 2017, Hamm was the former President of the National Association of Insurance Commissioners (NAIC), Chairman of the NAIC’s Cybersecurity Task Force, Principal on the United States Financial Stability Oversight Council (FSOC), Principal on the United States Financial and Banking Information Infrastructure Committee (FBIIC), and North Dakota’s elected insurance commissioner from 2007-2016. Adam also spent ten years as a criminal prosecutor and civil litigator.