Ohio has joined South Carolina in becoming the next state to adopt a variation of the NAIC Insurance Data Security Model Law (“MDL-668”). This legislation makes a number of changes to Ohio’s insurance law, including the addition of a new Chapter 3965, which establishes “standards for data security and for the investigation of and notification to the Superintendent of Insurance of a cybersecurity event” (containing new Sections 3965.01 through 3965.11). Licensees will have one year to come into compliance with the new requirements, with the exception of the third party service provider provisions (Section 3965.02(F)), which have been granted a two-year implementation date.
- Robert Bryson
- David TeSelle