Enacts the Insurance Data Security Law. (BDR 57-221)

AN ACT relating to cybersecurity; enacting the Insurance Data Security Law; requiring certain licensees with licenses or other authorizations related to the provision and administration of insurance to develop, implement and maintain an information security program that meets certain requirements; establishing requirements for the selection and oversight of third-party service providers by such licensees; requiring certain insurers to submit to the Commissioner of Insurance an annual statement certifying their compliance with certain cybersecurity requirements; enacting provisions governing the response of certain licensees to a cybersecurity event; authorizing the Commissioner to investigate and take disciplinary action against licensees for violations of certain cybersecurity requirements; making certain information obtained by the Commissioner confidential and privileged; providing penalties; and providing other matters properly relating thereto.