House Bill ('HB') 5200 for the Insurance Data Security Act was introduced, on 27 January 2021, to the Rhode Island House of Representatives and referred to the Committee on Corporations. In particular, HB 5200 would adopt the National Association of Insurance Commissioners Cybersecurity Act. In addition, HB 5200 would require licencees to implement a information security program in accordance with their 'size and complexity, the nature and scope of its activities, including its use of third-party service providers, and the sensitivity of the nonpublic information used by the licensee or in the licensee's possession, custody or control, shall develop, implement, and maintain a comprehensive w
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Rhode Island: Bill for Insurance Data Security Act introduced
February 11, 2021
Summary
The Rhode Island House of Representatives introduced House Bill 5200 for the Insurance Data Security Act on 27 January 2021, which would require licensees to develop a comprehensive information security program tailored to their size, complexity, and the sensitivity of the nonpublic information they handle. The bill mandates that licensees notify the Rhode Island Health Insurance Commissioner within 72 hours of a cybersecurity incident if it affects 250 or more state residents or poses a material risk to consumers or the licensee's operations. Additionally, licensees must submit information electronically to the Commissioner and provide ongoing updates about the cybersecurity event.