Insurance Data Protection: Less Data Collection from Insurance Companies
This act limits the ability of federal financial regulators to directly collect data from insurance companies. It aims to enhance the privacy of insurance data and reduce administrative burdens for companies. For citizens, this potentially means greater protection of their personal data held by insurers.
Key points
Federal financial regulators will be prohibited from directly collecting data from insurance companies.
Insurance data will be protected from unauthorized sharing with other agencies or entities.
Regulators must first check if needed data is available from other sources before requesting it from insurance companies.
Introduced
Citizen Poll