United States Insurance Tender

Governor John C. Carney Jr. signed House Bill 174 HB 174 into law. Titled the Delaware Insurance Data Security Act this law is based on an NAIC Model Act which establishes a comprehensive regulatory framework requiring insurers license.d to do business in Delaware to implement information security programs report instances of data breaches in a prescribed timely manner to the Commissioner and consumers and empowers the Department of Insurance to investigate violations of the Act and levy penalties accordingly.HB 174s prime sponsors were Representative William Bush Chair of the House Economic Development Banking Insurance Commerce Committee and Senator Trey Paradee also of Dover and Chair of the Senate Business Banking Insurance Committee. Additional sponsors include a bipartisan roster of Representative Krista Griffith Chair of the House Telecommunication Internet Technology Committee Senate Majority Leader Nicole Poore Senators Brian Pettyjohn and David Sokola and Representatives Paul Baumbach Sherry Dorsey Walker Timothy Dukes Sean Matthews Ray Seigfried and Michael Smith. Regarding Governor Carneys signing of the bill into law Delaware Insurance Commissioner Trinidad Navarro remarked on how the Act will enhance consumer protection in Delaware.When hardworking consumers entrust their personal information to their insurance companies they have a reasonable expectation that their carriers will do everything they can to safeguard that information stated Navarro. Over the past several years we have seen time and again consumers information be compromised or stolen by hackers cyber threats to insurers. By codifying a regulatory standard that requires all insurance licensees in Delaware to implement information security programs and timely report data breaches to the Department and consumers HB 174 enhances Delawares consumer protection measures to hold companies accountable and give consumers the peace of mind that they deserve. I thank Governor Carney and the General Assembly for recognizing the importance of this legislation and enacting it into law.