Continue reading on DataGuidance with:
Free Member
Limited ArticlesCreate an account to continue accessing select articles, resources, and guidance notes.
Already have an account? Log in
Create an account
Join our community for free to access exclusive whitepapers, reports, and regulatory information.
Wisconsin: Governor signs insurance cybersecurity act into law
The Office of the Commissioner of Insurance ('OCI') announced, on 15 July 2021, that Governor Tony Evers had signed Act 73, which creates Chapter 601, Subchapter IX of the Wisconsin Statutes on Insurance Data Security. In particular, the OCI noted that the act was derived from model legislation developed by the National Association of Insurance Commissioners, incorporating input from all participating state insurance commissioners, industry stakeholders, and consumer representatives. In addition, the OCI highlighted that the act will require any such body licensed with the OCI to develop an information security program that protects its systems and data.
Moreover, the Governor outlined that, within one year, entities must also conduct a risk assessment and address any areas that put their consumer's data or their IT systems at risk. Furthermore, the OCI noted that the act also requires insurers to develop an incident response plan and provide notice in a timely manner to consumers affected by a data breach.
Lastly, the act entered into effect on 15 July 2021.
Send us your Feedback!
Please let us know what you think of DataGuidance! It will only take 60 seconds and help us make the site better for you.
