Hunton Andrews Kurth insurance partner Michael Levine was recently interviewed by LegalTech News concerning Ohio’s recent adoption of the National Association of Insurance Commissioners’ (NAIC) Insurance Data Security Model Law. The law, modeled after the New York State Department of Financial Services Cybersecurity Requirements for Financial Service Companies Act, seeks to provide a framework for states to address risks and develop cybersecurity guidelines for insurance companies. Ohio became the second state, after South Carolina, to adopt the model law. As Mike explained in the article, the statute provides policyholders with an added layer of protection against disclosure of sensitive and confidential information that may be held by insurers operating in the state.

A link to the article featuring Mike’s comments can be found here.

States continue to increase their regulation of ridesharing companies like Uber and Lyft (also known as Transportation Network Companies or TNCs) and their drivers. The increased regulation comes with increased insurance obligations and Farmers Insurance is expanding a new product to fulfill those requirements. As one example, the governor of Ohio recently signed a bill that includes insurance coverage requirements applicable to TNCs and their drivers. To help remedy the potential coverage gaps that must now be filled, Farmers announced on Monday that it would expand its ridesharing coverage to Ohio.

Continue Reading As States Increase Regulation of Ridesharing, Farmers Insurance Fills In Insurance Gaps