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July 13, 2005
Security Breach Notifcation Laws Get Insurer Attention
The National Association of Mutual Insurance Companies (NAMIC)issued a news release apprising its members of 19 newly enacted state security breach notification laws and warning more states will likely follow suit. Given the recent spate of alarming security breaches, most notably at ChoicePoint and Lexis/Nexis, states are moving to follow California's lead requiring businesses to notify customers of security breaches which expose personal information to non-authorized persons. Before these highly publicized security failures, California was the only state requiring disclosure to consumers that their information had been compromised. Without California's law, I doubt we would ever have heard about the problem.
Given the amount and extent of personal information insurers collect in claims processing, NAMIC is smart to inform its members about these new laws and what they require. I shudder to think what information identity thieves could get if they hacked into insurer files.
Security Breach Notification Laws Should Concern Insurers, NAMIC Says (RR)
Posted by E L Eversman at July 13, 2005 10:49 AM
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