Insurance Data Protection Act prohibits financial regulators from collecting data directly from insurance companies.
The Insurance Data Protection Act aims to prevent financial regulators from gathering data directly from insurance companies. It mandates that financial regulators must first coordinate with relevant federal and state agencies to determine if the needed data is already available from other sources. If the data is not available, the financial regulator must comply with the Paperwork Reduction Act before collecting it. The bill also ensures that sharing data with financial regulators does not waive any existing privileges or confidentiality agreements.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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