NAIC Seeks Comment on Consumer Privacy Provisions

The National Association of Insurance Commissioners (NAIC) is seeking public comment on how state insurance departments should implement consumer privacy provisions of the Gramm-Leach-Bliley Act.

NAIC president George Nichols III and Kathleen Sebelius of Kansas said the Gramm-Leach-Blilely Act reaffirms the traditional authority of the states to regulate the business of insurance in the U.S.

The regulators said the law acts to provide for state insurance departments to adopt and enforce regulations to protect the confidentiality of personal consumer information held by insurance providers.