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North Dakota: Governor signs NAIC implementation bill into law
The Governor of North Dakota, Doug Burgum, signed, on 24 March 2020, the bill for An Act to create and enact chapter 26.1-02.2 of the North Dakota Century Code, relating to insurance data and security; and to provide for a legislative management study ('the Act') into law, following its approval by the legislature. In particular, the Act establishes exclusive state standards applicable to licensees for data security, the investigation of a cybersecurity event, and notification to the North Dakota Insurance Commissioner. In addition, the Act will implement the Insurance Data Security Model Law by the National Association of Insurance Commissoners ('NAIC'). Moreover, the Act outlines that the Commissioner will be the enforcement authority in relation to violations of the Act by licensees.
You can the read the Act here.
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