On Oct. 24, the National Association of Insurance Commissioners (NAIC) formally approved the Insurance Data Security Model Law (model law).

The NAIC is a standard setting and regulatory support organization consisting of the top insurance regulators from the 50 states, District of Columbia, and five U.S. territories.

The model law applies to "licensees" which are defined as persons and nongovernmental business entities subject to the insurance laws of the state adopting the model law.

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