Virginia Insurance Data Security Act Summary

  Effective July 1, Virginia’s Insurance Data Security Act (the “Act”) requires all regulated insurance companies licensed in Virginia to follow new data security and notification requirements. This article summarizes Virginia’s adaptation of the NAIC Insurance Data Security Model Law. Basic Requirements: Maintain the security of information systems and non-public information Promptly Investigate cybersecurity events Notify Individuals of cybersecurity events Notify the Commissioner of…